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Goldman Sachs warns: If Iran's oil supply is disrupted, oil prices could soar by $20!
Goldman Sachs' global commodity research co-head stated that if Iran experiences a continuous daily production decline of 1 million barrels, it is expected that next year the oil price will peak at around $20 per barrel.
Sharp rise! Why did oil prices finally 'react' this time?
If Haruk Island is attacked, it will take several months to repair the facilities even in the best case scenario. About 90% of Iran's exports go through these ports. In the event of such a situation, it is expected that oil prices will immediately surge by more than 10% and continue to rise.
Oil prices rise more than 5%! Is Israel going to attack Iranian oil facilities? Biden: Currently discussing.
Analysts believe that the oil market is not vigilant enough about the imminent major supply disruptions. With Israel potentially planning retaliatory attacks against Iran, possibly targeting its oil infrastructure, this prospect could impact bearish energy market participants. Analysts believe that the ultimate impact on global oil supply-demand balance and prices depends on the extent of Israel's response, and whether they see any actual damage to Iran's oil industry.
Breaking news! 15 fierce attacks, over 50 rockets, a large hole blown in the hangar... Middle East situation escalating, "full-scale war about to break out".
The tension in the Middle East has escalated.
Israeli soldiers were ambushed by Hezbollah! The military reported the first soldier killed in ground operations in Lebanon.
①Israel bombed the Lebanese capital Beirut again in the early hours of Thursday local time, resulting in at least six deaths; ②Prior to this, the Israeli army had just encountered the heaviest casualties in a year of conflicts between Lebanon and Israel on the southern border of Lebanon; ③The Israeli Defense Forces confirmed for the first time that eight soldiers were killed in ground military operations against Lebanon.
OPEC+ maintains its plan to increase production starting in December. Saudi Arabia warns that failure to comply with the production cut agreement could cause oil prices to drop to $50.
Saudi Arabia named Iraq and Kazakhstan, these two countries have not fulfilled the production cut agreement. According to some delegates, the message from Saudi Arabia is that if there is no room in the market, increasing production is meaningless, and some people are better off stopping. Other oil-producing countries interpret Saudi Arabia's latest statement as a tacit threat, that if other countries do not adhere to the production cut agreement, Saudi Arabia is willing to launch a price war to protect its market share.
Iran has taken action, what does this mean for oil prices?
Iran launched missiles, escalating geopolitical tensions, overnight oil prices spiked then fell back. The mainstream market view still believes that the conflict will not expand into a full-scale war, similar to April this year, but in the long run, Israel's response will determine the trend of oil prices.
Iran warns of devastating blow if retaliated against, Israel may carry out major retaliation in the coming hours.
Iran launched the largest-ever missile attack on Israel overnight! Iran warns that any response from Israel will result in a devastating attack, with Prime Minister Netanyahu vowing to make them pay, and the usa is ready to defend Israel.
Argentina's YPF Cuts Gasoline Prices for First Time in Five Years
Middle East conflict escalates significantly! Goldman Sachs: Oil prices have not yet factored in geopolitical risks.
Oil bears currently hold a record position, and if the Strait of Hormuz is closed, the risk premium for oil prices may arrive, leading to a surge in oil prices. In addition, oil prices are also supported by global easing cycle, inventory growth, and positions and valuations at low levels.
Careful of soaring oil prices? Goldman Sachs warns: the oil market is completely unprepared for escalation in the Middle East conflict.
Goldman Sachs analyst lindsay Matcham stated that further escalation of the conflict may have a significant impact on the market, especially if the conflict involves the potential closure of the Strait of Hormuz, which could lead to a sharp rise in local oil prices; Goldman Sachs analyst lina Thomas, in another report, focused on outlining four short-term positive drivers in the crude oil product market, including mentioning Middle East trends.
Petrobras in Talks With Oil Majors Over Africa Exploration, E&P Exec Says
Price war again? It is rumored that OPEC+ will continue to increase production, causing a sharp 3% drop in oil prices!
OPEC+ plans to increase production by 0.18 million barrels per day in December, which is part of the process of easing production cuts.
Crude oil product analysis at noon: hurricanes, sanctions, Middle East turmoil, will oil prices make waves again?
Middle East tensions escalate, Brent crude oil futures prices slightly rise... Iraq, Jordan, and Egypt condemn Israel's "aggression"... Hurricane Helen approaching, usa Gulf of Mexico crude oil production greatly reduced...
Libya's supply concerns eased, international oil prices plummeted by 2%.
Signs indicate that Libya may soon resume production, leading to a significant and sustained drop in oil prices.
U.S. Stock Market Outlook: China concept stocks pause in their rise! Alibaba, PDD Holdings both down nearly 3% pre-market; Goldman Sachs maintains bullish sentiment! Predicts U.S. stocks will continue to rise after the election ends.
Huang Renxun completed the nvidia shareholding in advance, cashing out over 0.7 billion US dollars; Robotaxi is about to emerge + optimistic Q3 delivery expectations, will tesla's "rising wave" come again? Where will the Fed go next? Traders are joining the November rate cut "gamble".
Midday crude oil analysis: OPEC calls for higher oil demand, what will be the future trend of crude oil?
Brent crude oil futures prices fall... China's central bank cuts interest rates and reserve requirements... Hurricane Helen approaches...
OPEC is optimistic on its own: highly bullish on long-term growth in oil demand
OPEC's latest annual outlook predicts strong growth in global oil demand will continue until 2050, but other participants in the market are far less optimistic about the demand outlook.
OPEC's global oil outlook for 2024: bullish on the oil market outlook, no demand peak in the short term.
①OPEC believes that some countries and companies may resist overly ambitious clean energy goals, and in addition, some global auto manufacturers have also adjusted their electrification goals, reducing investment in electric vehicles; ②OPEC expects global oil demand to reach 0.1189 billion barrels per day by 2045.
MercadoLibre To More Than Double Brazil Distribution Centers