### Surge in Oil Prices After Anticipated Middle East Tensions

Prices for Brent crude oil have surged, climbing beyond $2 a barrel, which translates to approximately NIS 7.50. This rise in price is attributed to market anxiety over potential Iranian retaliation following Israeli military strikes on Iran.

By mid-Friday morning, the price of Brent crude reached $74.64, a leap from $72.31 on Thursday and $70.90 on Tuesday. Ashley Kelty, research director at Panmure Liberum, indicated that the swift escalation reflects the market's premature dismissal of Middle East conflict risks. Such apprehension bolstered oil stocks, leading to over a 1% increase in shares for major companies like Shell and BP. This upward trend in stocks corresponded with a nearly 3% rise in crude oil prices, as reports emerged that Iran was preparing a retaliatory response against Israel from Iraq.

Analysts have projected that oil prices may continue to rise, particularly with the approaching US Presidential elections. Mukesh Sahdev from Rystad Energy noted that a confluence of international events at the month's end could lead to volatility in oil markets, making early November a potentially tumultuous period for oil prices.