"Oil Prices Surge Amid Escalating Israel-Iran Tensions"

Oil prices are expected to rise following Iran's attack on Israel, with global benchmark Brent crude reaching its highest level since October. The extent of further gains will depend on potential responses from Israel and the West, as well as any impact on oil supply and shipping through the Strait of Hormuz. U.S. President Joe Biden plans to convene a meeting of G7 leaders to coordinate a diplomatic response, while analysts anticipate a spike in oil prices at the opening of trading. The situation also raises concerns about the potential impact on Iranian oil exports and the global economy.