Oil expected to rise in wake of Iran's attack on Israel

Oil prices are expected to rise when markets open on Monday following Iran's attack on Israel over the weekend after they reached a six-month high on Friday, according to analysts who noted that Israel's response Iran launched over 300 drones and missiles at Israel from Iran, which the Israeli Defense Forces repelled the bulk of with assistance from the U.S., France, Jordan and the United Kingdom.

It is only reasonable to expect stronger prices when trading resumes," Tamas Varga of oil broker PVM told Reuters. "Having said that, there has been no impact on production so far and Iran has said that 'the matter can be deemed concluded.'" "However fierce and painful the initial market reaction will be, the rally could prove to be short-lived unless supply from the region is materially disrupted," he added.

The key is whether Iran will consider this retaliation a measured and final response, unless Israel decides to escalate," Brian Jacobsen, chief economist for Annex Wealth Management, told Reuters. "In 2020, Iran considered its response to the U.S.'s killing of General Soleimani in a measured and equitable response.

المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين

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Crude oil futures rise as Israel threatens to attack IranCrude oil futures rose Wednesday after two days of losses as Israel threatened to attack Iran if the Islamic Republic strikes Israel directly. Oil prices pulled back after the consumer price index rose 0.4% for March and 3.5% over the previous year, compared with expected gains of 0.3% and 3.4%, respectively. Israel warned OPEC member Iran Wednesday it would attack the Islamic Republic if Tehran strikes Israel."If Iran attacks from its territory, Israel will react and attack Iran," Israeli Foreign Minister Israel Katz said on theEnergy, the new momentum trade? Why the sector’s strong gains can increase from hereMorgan Stanley says the catch-up trade in energy can continue and names its top picks to play JPMorgan says oil could rise to nearly $100 a barrel on Russia’s ‘surprising’ actions ahead of U.S. election Khamenei has threatened to punish Israel after Iran's consulate in Damascus, Syria, was destroyed in a missile attack last week, killing seven Iranian military officials
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Oil prices could spike to $100 if Iran directly attacks Israel, analyst saysBob McNally, founder and president of Rapidan Energy, said global crude markets still have not factored in $10 of geopolitical risk.
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