The recent U.S. bombing of Iran's nuclear facilities has sent shockwaves through energy markets, prompting an expected rise in crude prices by up to 10%. While initial price surges are anticipated as risk premiums increase, analysts warn that these spikes may be short-lived due to potential boosts in oil output from OPEC+. Despite concerns over Iran's capacity for retaliation, including affecting vital transit routes like the Strait of Hormuz, forecasts suggest that increased crude supply may moderate any long-term price increases.
Expect oil to open with a sharp 7-10% gap up as risk premiums surge. But don't be fooled, this may not last...
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