Brent lifts above $80 as tensions rise again

Following on from an earlier update here noting risks to further geopolitical tension in the Middle East, news has emerged of a strike in Iran taking out the political leader of Hamas. There is no confirmation of who was behind the attack, but it seems pretty obvious who was responsible. So, the oil markets have lifted again and now the price of Brent for October delivery has risen above $80 a short while ago. The risks of this whole situation now deteriorating even further are very live right now and that is going to support the oil price in the short-term regardless of anything else. Brent has just lifted to a session high at $80.10