Oil perks up on talk of a strike in Iran

Two separate rumours/reports are doing the rounds right now.

The first is that there was a radar batallion hit in Syria near the city of Izraa.

The second is that there are ‘explosions’ near the city of Isfahan in central Iran. It’s a major city of 2.2 million.

Now I imagine we will get this sorted out quickly but it’s odd that the names of the cities are somewhat similar and the reports are hitting at almost exactly the same time.

Finally, there is now talk of intense warplane activity across parts of Iraq.

Oil prices are up more than 1%.

Update: More reports are coming in of strikes on Iran now with Sky News Arabia citing local media highlighting 3 large explosions in Isfahan, there is also talk of explosions in Natanz, Iran.

This article was written by Adam Button at www.forexlive.com.