"The rapid escalation of tensions between Iran and Israel has significantly impacted global oil prices, surging by about 5% due to the missile attacks and threats of retaliation."
"Capital Economics emphasized that if Iranian supplies are disrupted, Saudi Arabia’s response in increasing production will be crucial for the global oil market's stability."
"Analysts indicate that the market might not fully reflect the risks associated with possible Iranian attacks on oil facilities or blocking the Strait of Hormuz, which could provoke a global crisis."
"Saad Rahim from Trafigura highlighted the uncertainties, questioning how far the conflict could escalate and whether additional players might get involved in the ongoing tensions."
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