Oil Prices Jump 2.6% as Iran Launches Missiles at Israel, Threatening Ceasefire

Executive Briefing

• Surges Brent crude rose 2.6% to $95.50/barrel after Iran fired missiles at Israel, breaking the April ceasefire.
• Escalates Iran's IRGC warned the strikes are the beginning of 'a full week' of attacks on Israel.
• Intervenes Trump told Axios he will urge Netanyahu not to retaliate, citing proximity to an Iran nuclear deal.
• Disrupts Iran's threats to block the Strait of Hormuz have already curtailed Gulf oil and gas shipments.
• Volatility persists oil prices have swung dramatically since US-Israeli strikes on Iran began February 28.