Dozens of Israeli aircraft completed three waves of strikes before dawn Saturday against missile factories and other sites near Tehran and in western Iran.
The oil barrel sinks more than 5% after this weekend’s response from Israel to Iran. Israel’s attack bypassed Tehran’s oil and nuclear facilities and disrupted energy supplieswhich eases geopolitical tensions in the Middle East.
Dozens of Israeli aircraft completed three waves of attacks before dawn on Saturday against missile factories and other sites near Tehran and in western Iranin the latest exchange in the escalating conflict in the Middle East.
In this context, the barrel of oil WTI falls 5.8% to $67.62, while the North Brent drops 5.7% to $71.33 a barrel.
Saul Kavonic, an energy analyst at MST Marquee, said the more limited nature of the attacks, which avoided oil infrastructure, gave hope that a way is opened to de-escalate hostilities in the Middle East, especially if it becomes clear that Iran will not counterattack in the coming days.
“But despite the ebb and flow of news about the conflicts in the Middle East, the general trend continues to be climbingand the chances of another round of attacks, causing a spike in oil prices, have never been greater,” he said.
Chris Weston, research director at Pepperstone, with the possibility of Iran’s oil facilities being left out of Israel’s military plans, The demand side of the crude oil supply/demand equation should become increasingly influential as a short-term price driver.and the crude oil price will focus on top-level growth data.
Source: Ambito
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