The oil prices they went up this thursday for the investor concern that an increasingly serious conflict in Middle
East could disrupt the region’s crude flows, although the prospects for a largest world offer They kept profits in check.
The futures of oil Brent LCOc1 rose $1.41, or 1.91 percent, to $75.31 a barrel. US crude oil futures West Texas Intermediate CLc1 rose $1.45, or 2.07 percent, to $71.55.
Markets fear that Israel will attack oil infrastructure Iranians, which could provoke retaliation by Iran.
There are concerns that this escalation could lead Iran to block the Strait of Hormuz or attack Saudi infrastructure, as it did in 2019, said Ashley Kelty, an analyst at Panmure Gordon.
The strait is a key logistical chokepoint through which a fifth of the daily oil supply.
Israel bombed Beirut early today, killing at least six people, after his forces suffered their deadliest day on the Lebanese front in a year of clashes with Hezbollah, an armed group backed by Iran.
Israeli Prime Minister Benjamin Netanyahu said Iran would pay for its attack with missiles against Israel on Tuesday, while Tehran claimed that any retaliation would be met with “vast destruction”, raising fears of a broader war.
“From here, it’s a waiting game to see what the Israeli response will be and I suspect it will come after the conclusion of the Rosh Hashanah holiday tomorrow,” said IG market analyst Tony Sycamore, referring to the Jewish New Year. .
“We could see oil prices plummet and the geopolitical premium built up in prices fade, if Israel decides to press its advantage against Hezbollah in southern Lebanon rather than retaliating directly on Iranian soil or assets,” said Harry Tchilinguirian , head of research at Onyx Capital Group.
Meanwhile, crude oil inventories USA increased by 3.9 million barrels to 417 million barrels in the week ended September 27, the company said. Energy Information Administration (EIA), compared to the expectations of the survey of Reuters of a decrease in 1.3 million barrels.
“The rise in US inventories demonstrates that the market is well supplied and can withstand any disruption,” ANZ analysts said in a note.
Fears have been tempered by the production capacity of oil OPEC and by the fact that the world’s crude oil supply has not yet been disrupted by unrest in the main producing region.
OPEC has sufficient reserve capacity to offset a total loss of Iranian supply if Israel takes that country’s facilities out of service.
Oil in real time
BRENT Oil
​WTI Oil
​MATP
