Iran, Israel and Oil
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To date, Israel has avoided targeting Iran’s high-value energy export infrastructure, opting instead for limited strikes on domestic refineries and storage facilities, mainly around Tehran
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The Israel-Iran conflict is pushing up global petroleum prices, but American oil producers have little interest in dramatically scaling up their operations.
The Israeli military claims its campaign has eliminated high-value targets, including nine senior scientists, and severely damaged Iran’s nuclear infrastructure. Iranian authorities confirmed damage to four critical buildings at the Isfahan uranium conversion facility,
Emergency services say 10 have been killed in Israel, while Iranian state media has given little information about casualties in Iran.
Ukrainian President Volodymyr Zelenskyy says rising global oil prices following Israeli strikes on Iran will strengthen Russia by increasing its oil revenues, aiding its war effort in Ukraine