Iran, Israel and Oil
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Emergency services say ten have been killed in Israel, while Iranian state media have given little information about casualties in Iran.
Iran’s oil ministry has confirmed that the Shahran fuel and gasoline depot was hit and set afire during the Israeli attack on Saturday night. A major fire is burning, witnesses say. The depot, with at least 11 storage tanks, is in an affuent affluent neighborhood of luxury high-rises.
Benchmark U.S. crude futures rose by more than 10% to trade above $75 a barrel, the highest price since January and before President Trump's April tariff announcements had energy traders penciling in slower economic growth and lower fuel demand.
In a short post on X, Katz wrote, "Tehran is burning," a statement that follows Israeli strikes on two oil depots in Iran.
The sweeping attacks by Israel, which began early Friday, have killed more than 70 people, including four of Iran’s top security chiefs, and damaged Iran’s main nuclear site at Natanz. Iran retaliated by launching scores of missiles at Israel. At least three people have been killed and dozens more wounded during these attacks.