What next for oil prices amidst Iran-Israel tensions? – Analysts weigh in
In the wake of Iran's attack on Israel, oil futures showed minimal movement, hinting at a market that had anticipated the event. With Citigroup predicting potential spikes up to $100 per barrel, and others like Goldman Sachs and ING suggesting a contained risk premium already factored into prices, the focus shifts to Israel's response and its implications for regional stability. Analysts from institutions like SVB Energy and the IEA emphasize market balance and heightened security risks, respectively, while the overall sentiment leans towards cautious observation of geopolitical developments and their impact on oil supply and pricing.
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By Yongchang Chin and Ben Bartenstein
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