Rumors of a potential US attack on Iran have sparked a significant increase in oil prices, and the Oslo Stock Exchange has responded with a notable rise. As reported by Axios, the US could be days or weeks away from striking Iran, information that has driven market investor behavior. The main index of the Oslo Børs rose by 1.54% earlier in the day, reaching a record high of over 1,850 points, while oil prices climbed 2.64% to $69.11 per barrel, reflecting heightened market sensitivity to geopolitical events.

The surge in oil prices is attributed to the warnings of impending military action, which Axios says could result in a large-scale operation unlike the more limited strikes seen against Venezuela earlier this year. Axios reports that the US has significantly increased military presence in the region, with 150 cargo planes transporting weapon systems and ammunition to the Middle East in recent weeks, and 50 fighter jets having been deployed in the past 24 hours alone. This military mobilization suggests serious planning and conveys a strong message regarding US intentions.

The implications of a US attack on Iran would be far-reaching, potentially escalating tensions in the Middle East and impacting global oil markets. Analysts and investors are closely monitoring developments, as prolonged military engagement could lead to sustained increases in oil prices, affecting global economies already strained by inflation and supply chain issues. As such, the Oslo Børs and other stock markets may continue to experience volatility influenced by these geopolitical events.