The quotations to the crude oil took it crazy
Effects of the attack launched by Israel on Iran. The quotations in the crude oil have climbed by over 9%, reaching the highest level of the last five months, after Israel made blows against Iran, suspected of wishes to equip themselves with nuclear weapons, increasing fears about disturbing oil supply, reports Reuters.
At the Ice Futures Stock Exchange, the quotation of the Brent Brent Baril climbed by 9.07% to 03:15 GMT, reaching $ 76.65, after reaching $ 78.50, the highest level in January.
At the New York Mercantile Exchange (Nymex) Stock Exchange, the quotation of the ‘Light Sweet Crude’ barrel climbed by 9.45% to 03:15 GMT, reaching $ 74.47, after reaching $ 77.62, the highest level in January. There are the biggest increases during the day for both quotations of 2022, after Russia invaded Ukraine, which led to a significant advance of energy price.
« Attacking Iran has significantly increased geopolitical uncertainties and the market is worried about potential oil supply disturbances, » the ING Warren Patterson analyst warned.
In contrast, analyst Saul Kavonic from MST Marquee argues that oil supply will be affected if this conflict will climb to the point where Iran will react and attack the oil infrastructure in the region. He added that Iran could obstruct the supply of up to 20 million bars per day following attacks on petroleum infrastructure or limiting the transition through the Hormuz Strait, in an extreme scenario.
Iran warned that it has « legal and legitimate right » to respond to Israel’s murderous attacks on several nuclear cities and nuclear installations.
The escalation of tensions in the Middle East will increase risks in financial markets and reduce investor confidence, explained Tony Sycamore, an analyst at the Ig investment company. He added: « While we are waiting for new information and the potential answer from Iran, we will probably see an additional deterioration of trust. »
The US dollar, the Swiss franc and the Japanese yen appreciated on Friday, while the risk sensitive currencies, such as the Australian dollar, have depreciated.
