On Friday, oil prices continued to remain in the area of local highs reached yesterday amid fears of an aggravation of the situation in the Middle East. Both leading markers, Brent and WTI, reached their highest values since the end of October at the levels of $91.26 and $87.07 per barrel, respectively. The current Brent quote is $90.67 per barrel, WTI is trading near $86.42. Yesterday, the oil market showed a sharp increase after Israeli Prime Minister Benjamin Netanyahu announced at a meeting of the Israeli security cabinet that the country intends to respond to threats from Iran. Israel went into full combat readiness mode due to fears of a response from Iran for the attack on the consulate. An air defense system has been deployed in the country, reservists have been mobilized, and military vacations have been canceled. Analysts note that as long as the tense situation in the Middle East continues, oil prices will continue to rise.
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