Global oil and gold prices surge as Israel retaliates against Iran

Published On: April 19, 2024 08:09 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, April 19: Global oil and gold prices have surged after Israel initiated retaliation against Iran.

According to the BBC, crude oil prices in the Asia region surged by 3 percent on Friday following confirmation from US officials about Israel's attack on Iran. As a result, crude oil has reached a price of 1,000 USD per barrel.

Likewise, a new record has been set for the price of gold, with the cost per ounce (28.34 grams) reaching 2,400 USD.

Simultaneously, stock markets in Japan, Hong Kong, and South Korea have experienced declines.

Iran's official news agency, IRNA, reported that Israel launched countermeasures against Iran this morning, conducting missile attacks on various cities.


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