Commodities Analysis by Investing.com (Barani Krishnan) covering: Brent Oil Futures, Crude Oil WTI Futures, ProShares UltraShort Bloomberg Crude Oil, ProShares Ultra Bloomberg Crude Oil. Read Investing.com (Barani Krishnan)'s latest article on Investing.
That one of the world’s fiercest wars now is being fought right next some of the biggest oil exporters probably justifies some geopolitical risk to be attached to. But a daily move of up to a few percent will require the supply of oil itself to be impacted — not just hypothetically but in real barrel terms.
Israel’s ambassador to the United Nations, Gilad Erdan, claimed knowledge on Sunday of meetings in Syria and in Lebanon by Iran and its proxies to help plan the attacks. Hamas itself has publicly acknowledged receiving support from Iran. “They seem to love the power play they are getting out of this, the Iranians,” observed John Kilduff, partner at New York energy hedge fund Again Capital. “So long as Washington doesn’t take sanctions on Iranian oil to the next stage, these antics alone won’t be enough to sustain the rally in oil.”
In Iran’s case, since late 2022, Washington has virtually turned a blind eye to surging Iranian oil exports that bypassed US sanctions as it allowed an informal détente with Tehran to get more of the Islamic Republic’s oil onto the world market to offset OPEC+ production cuts. In fact, the administration will likely be more effective in denying Iran some of the cold cash it needs from oil.
Crude exports hit a record high just shy of 4 million barrels per day in the first half of the year, the EIA said in a separate report on Wednesday.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Crude Oil Forecast: Threat of Broader Conflict, Sanctions Spooks Oil MarketsFriday the 13th witnessed a surge in oil prices ahead of the weekend as Israel threatens to take the war to another level. The Israel-Hamas set to intensify
Lire la suite »
Markets Week Ahead: Gold, Crude Oil, Geopolitical Tensions, US Dollar, Fed, China GDPGold prices soared in the best week since the middle of March, crude oil also outperformed amid geopolitical volatility. Ahead, all eyes are on a speech from Jerome Powell and Chinese GDP data. What else is in store for markets ahead?
Lire la suite »
Crude Oil Futures: Corrective move in the offing?CME Group’s flash data for crude oil futures markets noted traders scaled back their open interest positions for the second session in a row on Monday
Lire la suite »
1 Stock to Buy, 1 Stock to Sell This Week: Lululemon, PfizerStocks Analysis by Investing.com (Jesse Cohen) covering: Pfizer Inc, Lululemon Athletica Inc. Read Investing.com (Jesse Cohen)'s latest article on Investing.com
Lire la suite »
Israel-Hamas war risks upending trade and commodities shippingBreanne Deppisch is an energy and climate policy reporter at the Washington Examiner. A former national political reporter, she has closely covered campaigns, Congress, and the White House since 2016.
Lire la suite »
Week ahead: Geopolitical risks step up as commodities surgeRisky assets ended last week in the red, after news that Israel was preparing for a land invasion into Gaza sent commodity prices soaring. After last
Lire la suite »