Investors are flocking to the crude oil market amid the largest rally in nearly two years, driven by geopolitical tensions following Iran's missile attack on Israel. Oil prices have surged over $6 per barrel. Former Israeli Prime Minister Ehud Barak believes Israel is likely to retaliate by targeting Iran's oil industry, potentially through significant aerial strikes similar to previous actions in Yemen.

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Despite U.S. opposition to attacking Iran’s nuclear facilities, Barak suggests Netanyahu’s government may still consider such strikes as a symbolic move amidst escalating Middle East tensions. Increased retail trading has heightened market volatility, with volumes in oil-linked products, including the United States Oil Fund, reaching their highest levels since Russia’s invasion of Ukraine in 2022, adding both liquidity and risk to the market.

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