Oil Prices Almost Recoup Week Losses As Iran Mulls Retaliatory Attack Against Israel Prior To US Elections

Crude prices are nearing full recovery from early-week losses, poised for a third consecutive daily gain on Friday amid escalating geopolitical tensions in the Middle East.

A report by Axios on Thursday, citing two Israeli intelligence sources, indicates Iran may be preparing a major retaliatory strike from Iraq within days. Israeli intelligence reportedly anticipates an attack using numerous drones and ballistic missiles launched from Iraq.

Yet, U.S. officials told Axios that they remain uncertain whether Iran has finalized a decision to act.

Iranian Revolutionary Guard Corps ...