The energy market remains volatile, Biden does not encourage Israel to attack Iranian oil fields.
President Biden of the USA is attempting to prevent Israel from attacking Iran's oil fields, while the USA hopes to influence Israeli Prime Minister Netanyahu's response to ballistic missile attacks and prevent the region from descending into full-scale war.
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.
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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 the political deadlock, Libya fully restores oil production.
After resolving the political deadlock, Libya will resume oil production on Thursday, supplying hundreds of thousands of barrels of oil to the global market every day.