The prospect of an oil embargo arising from the conflict between Israel and militant groups contributed to a sharp but brief jolt in oil prices on Wednesday.
Iran’s foreign minister, Hossein Amir-Abdollahian, called for Islamic countries to boycott Israel, including stopping oil shipments, according to Iranian media. He was speaking at a meeting of the Organization of Islamic Cooperation in Jeddah, Saudi Arabia.
Although Israel imports nearly all its oil, analysts said such an embargo would probably have little immediate impact, because the country does not buy oil from major Persian Gulf producers like Saudi Arabia and the United Arab…