Iranian military base hit in Israeli attack, global markets wobble
19 April 2024 08:24
The Israeli army attacked Iran on Friday morning – reported the "New York Times", citing two military officials in Israel. Iranian sources of this newspaper, however, reported that a military base near the city of Isfahan was struck. The markets nervously reacted to the first reports of explosions.
Early in the morning in Iran, there were reports of explosions. Israeli media reported on carrying out attacks on targets in Iran - reported the Polish Press Agency. Meanwhile, the Iranian news agency Fars reported that an explosion was heard at the airport in the Iranian city of Isfahan.
In the Isfahan province, several Iranian nuclear facilities, including Natanz, are a central element of the Iranian uranium enrichment programme. Iranian sources in the "New York Times" newspaper informed that a military base near the city of Isfahan was hit.
In response, air defence was activated. The spokesman for the Iranian civil space program, Hossein Dalirian, on social media, reported that several small "quadcopter" type drones were shot down.
Iranian media affiliated with the Revolutionary Guard conveyed that the nuclear facilities are secured.
Nervously on the markets
The markets reacted nervously to the report. Brent crude oil rose to over £72 a barrel overnight. In the morning, however, the price dip reduced the jump, and the raw material returned to the level of around £71, but it is rising again - reports Bloomberg.
On Friday, a barrel of Brent crude oil became more expensive by 1.87 percent, and a barrel of WTI crude increased by 2.14 percent, to approximately £67 a barrel.
The price of gold also rose. Trading in the metal exceeded the level of £1920 an ounce. Meanwhile, wheat rose by 4 percent.
As Bloomberg adds, U.S. Treasury bonds gained value, being the traditional haven in uncertain times, but futures on U.S. stocks fell along with Asian markets.
So-called safe currencies also became more expensive. The yen, Swiss franc, and dollar gained in value on Friday due to developments in the Middle East. Meanwhile, the Polish zloty weakened against the dollar by 0.5 percent.
