Sector Update: Energy Stocks Edge Higher Premarket Friday
Oil Rises Again as Traders Await Israel's Response to Iran's Attack
Geopolitical Concerns Mount, Crude Oil Gains, Asia And Europe Markets Mixed - Global Markets Today While US Slept
Oil Brief: Brent Crude and NY Crude Both Up Near 1% Each, To About US$78.36 and US$74.44 Respectively
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.