2024-10-08 09:00:09
Energie
Conflicts
Politics

Rising Tensions and the Oil Market: A Global Impact

Image courtesy of : AFP (-)

The escalating conflict between Iran and Israel has sent ripples through the global oil market, triggering concerns over supply disruptions and potential price shocks. Following Iran's missile barrage on Israel, oil prices surged by nearly 10%, reflecting heightened fears of a broader conflict. Analysts from Citigroup and Goldman Sachs have warned of a possible sharp rise in oil costs, emphasizing the critical role Iran plays in oil exports.

Despite the initial rally, oil prices have recently retreated as investors reassess the likelihood of sustained conflict. Brent and WTI futures fell over 1.5% as traders took profits, while remaining alert to geopolitical risks. The conflict has intensified with Hezbollah's rocket attacks on Israeli cities, prompting speculation about Israel's next moves.

Iran has issued stern warnings against any attacks on its oil infrastructure, indicating that such actions could alter its nuclear strategy. U.S. President Biden has advised Israel against targeting Iranian oil facilities, highlighting the delicate balance of power in the region.

While OPEC+ countries like Saudi Arabia and the UAE could increase production to mitigate potential losses from Iran, the current weak global demand for oil may restrict significant price increases. As the situation unfolds, market watchers are keeping a close eye on the geopolitical landscape, including natural disasters like Hurricane Milton, which could also impact crude oil inventories.

Frankfurter Rundschau
7. Oktober 2024 um 12:49

Tensions between Iran and Israel: Is the world now facing an oil price shock?

Politics
Environment
Finance
Economy
Iran's missile attack on Israel; Oil price increase by 10%; Possible blockade of the Strait of Hormuz and attack on the Kharg facility; Warning from Citigroup analysts of a sharp rise in oil prices; Forecast by Goldman analyst Daan Struyven on a possible rise in oil prices; Statement by Struyven in Squawk Box Asia of the US news channel; Importance of Iran's oil exports; Possible production increase by OPEC+ countries like Saudi Arabia and the UAE.
Kinh doanh - VnExpress
8. Oktober 2024 um 02:07

Giá dầu thô tiếp tục tăng vì căng thẳng Trung Đông

Environment
Finance
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Brent, WTI oil prices rise nearly 4% to 1-month high on Middle East tensions. OPEC has spare capacity to offset Iran supply loss, but planned production hike may require $90 Brent. However, global oil demand remains weak, limiting further price increases.
Yahoo Finance
8. Oktober 2024 um 01:03

Oil retreats as investors pare bets on Middle East war risk after sharp rally

Environment
Finance
Politics
Oil prices fell as traders took profits after a rally driven by Middle East tensions. Brent and WTI futures declined over 1.5% as investors pared bets on potential supply disruptions. Geopolitical risks remain, with Iran-backed Hezbollah firing rockets at Israel's third-largest city, Haifa, and Israel looking to expand its offensive into Lebanon. The oil price rally began after Iran launched a missile barrage on Israel on Oct. 1, and Israel is weighing options to retaliate. However, analysts say..
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