DBT Bureau
Bengaluru, 2 October 2024
- Iran fired around 200 missiles at Israel on Tuesday, raising fears of an all out war in the West Asian region. According to statements from Iran’s Islamic Revolutionary Guard Corps, these strikes targeted Israeli security and military sites in retaliation for the killing of Hezbollah leader Hassan Nasrallah and others. Meanwhile, Israel vowed strong retaliation to these attacks.
- Crude oil prices surged as Iran launched missile attacks on Israel. Brent rose over 3% to touch $73 per barrel as any escalation could disrupt production in this oil-rich region. Iran is the third-largest producer of crude oil globally.
- Asian stock markets slumped over the news of the Iran-Israel war. Japanese Nikkei fell around 1.76%, while South Korean Kospi was down around 0.7% on Wednesday trade.
- Most European indices are trading lower owing to fears of escalation. Jerman’s DAX is trading lower, while France’s CAC is also down amid subdued investor sentiment. However, the UK’s FTSE is trading marginally higher.
- US Deputy Secretary of State, Kurt Campbell said not only Israel, the US is mulling over response options against Iran attack.
