Investors fear bump in oil prices following Iran strike on Israel

Analysts predict oil prices will rise but the extent depends on potential retaliation

Last week tensions in the Middle East sent the price of benchmark Brent Crude to €86.39. Picutre: Getty

A dark mood set over markets on Sunday with analysts forecasting a rise in oil prices following Iran’s attack on Israel.

Gulf markets were down slightly on Sunday, providing an early indication of investor reaction to the unprecedented escalation. Eyes are on the meeting of G7 leaders this afternoon, and what any reactionary measures could mean for major oil indices.

"Oil prices might spike at the opening as this is the first time Iran has ...