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This is simply a reason for the bulls to push prices up. They managed to do that. This is a temporary phenomenon. I, of course, expect a response from Iran — Shahed drones will fly, they already seem to be flying, missiles will be launched from Iran toward Israel, but I do not expect any catastrophes with oil exports from the Persian Gulf. Therefore, for 2-3 days everything will fluctuate at high levels, and then from Monday everything will drop unless there is some kind of nuclear escalation. Oil prices, which surged due to Israel’s strike on Iran, will start to decline from Monday.
#Oil #Economy #Iran #Israel