And just like that what was already a terrible day for fans of deflation – not to mention Biden and the Fed -got worse – when moments ago oil soared by over $1 per barrel, with WTI jumping above $86 and Brent over $90…
… after a Bloomberg report that the US sees a missile strike on Israel by Iran and proxies as “imminent” to wit:
The US and its allies believe major missile or drone strikes by Iran or its proxies against military and government targets in Israel are imminent, in what would mark a significant widening of the six-month-old conflict, according to people familiar with the intelligence.
The potential assault, possibly using high-precision missiles, may happen in the coming days, the people said, requesting anonymity to discuss confidential matters. It is seen as more a matter of when, not if, one of the people said, based on assessments from US and Israeli intelligence.
Iran has threatened to hit Israel in retaliation for an attack on a diplomatic compound in the Syrian capital of Damascus last week that killed senior Iranian military officials. Israel has not explicitly acknowledged it was behind that attack, though it has traditionally followed a policy of ambiguity on operations in Syria, Lebanon and elsewhere.
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