Crude Realities: Market Jitters Amid US-Iran-Israel Tensions

Crude oil prices rose on Friday as investors awaited clarity on the possibility of US involvement in a conflict between Israel and Iran. The uncertainty caused Asian shares to trade in mixed patterns.

US futures edged lower following the Juneteenth holiday break on Wall Street. The domestic benchmark crude increased slightly to USD 73.65 per barrel, while Brent crude also saw a minor rise to USD 76.89 per barrel. Market jitters were attributed to fears of disrupted oil supplies due to the geopolitical tension.

Adding to market uncertainty, US President Trump's potential decision on launching an attack on Iran is being closely monitored, alongside his tariffs agenda impacting market conditions. Meanwhile, Japanese inflation and US trade policies further complicated the economic landscape.

(With inputs from agencies.)