Crude oil futures rose Wednesday after two days of losses as Israel threatened to attack Iran if the Islamic Republic strikes Israel directly.
The West Texas Intermediate contract for May delivery gained 31 cents, or 0.36%, to $85.54 a barrel.
Oil prices pulled back after the consumer price index rose 0.4% for March and 3.5% over the previous year, compared with expected gains of 0.3% and 3.4%, respectively.
Israel warned OPEC member Iran Wednesday it would attack the Islamic Republic if Tehran strikes Israel.
"If Iran attacks from its territory, Israel will react and attack Iran," Israeli Foreign Minister Israel Katz said on the social media platform X, tagging Supreme Leader Ayatollah Ali Khamenei.
Persons:
Israel, Brent, Israel Katz, Ayatollah Ali Khamenei
Organizations:
Quds Force, West Texas Intermediate, Iran
Locations:
Jerusalem, Syria, Tehran, Iran, Islamic Republic, Israel, Republic