Bloomberg News Now: Oil Rises on Report of Possible Israel Attack on Iran
May 21, 2025
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7:34Israel Preparing Strike on Iran’s Nuclear Facilities According to Report
4:20Now PlayingBloomberg News Now: Oil Rises on Report of Possible Israel Attack on Iran
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as posted by the channelBloomberg News Now with Karen Moskow and Nathan Hager reporting on the price of oil surging and President Trump's efforts to pass his "big beautiful" tax bill.
A US media outlet reports that Israel may be poised to strike Iran’s nuclear sites and oil markets wince. In Washington, a Republican administration wonders if Tehran is more determined or deterred.
So it was in 2005, when US Vice President Dick Cheney mused that “the Israelis might well decide to act first, and let the rest of the world worry about cleaning up the diplomatic mess afterwards.”
Two decades on, no such attack has come to pass. Iran has drawn closer to making the bomb it denies it wants. Yet Western intelligence warnings about Israeli intentions and the Jewish state’s threats to intervene militarily have kept percolating, most recently though CNN. The broadcaster reported that US intelligence suggests Israel is making preparations for potential strikes.
A modest 1.4% rise in Brent crude to just over $66 a barrel — after a higher jump in early trading on Wednesday — suggests oil traders are skeptical any such action is imminent. And with good reason. To judge from former decision makers, speculation about Israel lashing out has often been intended to scare Iran as it negotiates with Washington over its nuclear program.
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