"Market Speculates on Oil Price Surge Following Iran's Attack on Israel"

Oil prices are expected to rise following Iran's attack on Israel, with further gains hinging on potential responses from Israel and the West. Concerns about a wider regional conflict have already supported oil prices, with global benchmark Brent crude reaching its highest level since October. The impact on production has been limited so far, and the duration of the price rally will depend on potential disruptions to the region's oil supply. Additionally, the situation may be influenced by diplomatic responses and the potential impact on Iranian oil exports, with implications for global oil prices and the U.S. gasoline market.