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CRUDE OIL PRICES ROSE SHARPLY AFTER IRANIAN MISSILE ATTACKS ON ISRAEL   Crude oil prices jumped on Tuesday amid the deterioration geopolitical situation in the Middle East, raising fears of a significant expansion of hostilities that could disrupt oil supplies.   The Iranian missile attack on Israel initially sent oil prices soaring, before traders put the impact of the strikes on the crude oil market into perspective. Israeli military spokesman Daniel Hagari warned that the attack would have consequences, noting that there were no injuries. The Revolutionary Guards, Iran’s ideological military, presented this attack as a response to the assassinations of Hamas leader Ismail Haniyeh, Hezbollah leader Hassan Nasrallah, and Abbas Nilforoushan, the deputy head of the Revolutionary Guards. In the short term, full Iranian involvement could cause panic in the markets and we could see a sharp rise in the barrel of oil, said John Plassard, an analyst at Mirabaud. The attack comes a week after an intense Israeli bombardment of Hezbollah, which left hundreds dead in Lebanon. The prospect of a wider conflict threatens supplies from the Persian Gulf region, explained Ricardo Evangelista, analyst at ActivTrades.   Iran was the world's ninth largest crude oil producer in 2023, according to the US Energy Information Agency, and has the third largest proven reserves behind Venezuela and Saudi Arabia. Despite being subject to a U.S. embargo on petroleum products, Iran continues to export massive quantities of crude. According to Kpler, the volumes sent abroad from the Islamic Republic this year even reached their highest level for five years.   Matt Smith of Kpler explained that a disruption to Iranian exports would have a big impact on China, which, no longer receiving these barrels at discounted prices (Iran sells at a lower price to convince its customers to circumvent the sanctions), would have to buy them at market prices from other suppliers in the Middle East.   However, afterwards, the speakers were more reserved about the consequences of this new missile development. It seems that, once again, the arrival of these missiles was announced well in advance, commented Matt Smith, Iran felt it had to react, but it could have been worse. Many draw parallels with the April 13th attack on Israel, which Iran presented as a response to a deadly attack on the Iranian consulate in Damascus, which did not lead to an escalation between the two countries.   According to Naeem Aslam, analyst at Zaye Capital, this attack is a mosquito bite, a few more fireworks from Iran and an all-out war between Iran and Israel is not a credible possibility. He added that if the marketwere betting on a full-scale war, crude oil prices would be approach the $100 level.

Recent Escalation in the Iran-Israel Conflict and Its Impact on Crude Oil Prices: The ongoing tensions between Iran and Israel have taken a dramatic turn, with Iran launching over 180 ballistic missiles in response to alleged Israeli attacks on its military operations in Lebanon. As the situation intensifies, the global oil market is on high alert. Iran, responsible for approximately 4% of the world’s oil supply, plays a crucial role in the stability of oil prices. Any prolonged conflict could lead to significant disruptions in supply. Geopolitical conflicts historically trigger price surges, and the Russia-Ukraine war serves as a clear example, where WTI prices soared by over 52%. With the potential for continued instability, the market could experience heightened volatility and speculation, further driving up crude oil prices. Industry professionals should closely monitor these developments as they could have far-reaching consequences on energy markets and global economies. #OilIndustry #Geopolitics #CrudeOilPrices #IranIsraelConflict #EnergyMarkets #GlobalEconomy #SupplyDisruption

Oil posts its largest weekly gain since March 2023 driven by rising tensions in the Middle East: ✅Prompt month WTI closed the week up $6.20 at $74.38/Bbl, marking the largest weekly gain in nearly two years on concerns over potential Israeli strikes on Iran's oil infrastructure following Tuesday’s missile attack ✅Analysts estimate a major strike could affect 0.3 to 1.5 MMBbl/d of Iranian oil supply and an escalation could possibly threaten key routes like the Strait of Hormuz, which handles nearly a third of global oil transit ✅On Friday, President Biden discouraged Israel from attacking Iran’s oil fields while the U.S. and G7 nations mull over sanctions on Iran ✅Meanwhile, the US military struck Houthi targets in Yemen on Friday while Israel continued strikes on Lebanon and Gaza 👉 Stay informed on the rising tensions driving #crude prices: https://hubs.li/Q02SfHfG0 #marketupdate #opec #oil #crudeoil #oott #wti #oilandgas #midstream #energymarketing #energyindustry #commoditymarkets #riskmanagement #oilandgasindustry #hedging #volatility #middleeast

In recent news, the Red Sea conflict has escalated with a series of attacks by the Iran-backed Houthi rebels on commercial vessels. The conflict has disrupted global trade and caused a significant diversion of international trade in decades. The latest incident involved the hijacking of an Israeli-linked cargo ship with 25 crew members. This event has heightened tensions in the Gaza conflict. The Houthis have also fired missiles at a Marshall Islands-flagged tanker and a British tanker, which were later extinguished by Indian rescuers and the United States, respectively. In response to these attacks, the United States has struck an imminent threat posed by a Houthi anti-ship missile in the Red Sea. The French, US, and Indian navies have also assisted in putting out the fire on the tanker hit by a ballistic missile. China and Russia have been granted safe passage through the Red Sea by the Houthis. China has called for an immediate cease-fire due to disruptions to their business in Tehran. The United Nations agency in Gaza has fired employees over alleged involvement in an attack on October 7, 2023. The conflict has the potential to disrupt global trade and energy prices, as the Red Sea is a crucial route for oil and gas shipments. In conclusion, the Red Sea conflict remains a complex issue with significant global implications. It is essential to stay informed and keep an eye on the latest developments as they unfold. #redsea #israelpalestinewar #houthi #logistics #houthis #yemen #israelpalestineconflict

Oil prices jumped by 3% following heightened geopolitical tensions in the Middle East. Iran launched ballistic missiles at Israel, retaliating for Israel's campaign against Hezbollah, Iran's ally in Lebanon. This escalation raises concerns about potential disruptions in global energy markets and oil supplies. How do you think this situation will impact the broader economy? #OilPrices #Geopolitics #MiddleEast #EnergyMarkets #EconomicImpact

WTI prices fell 7% last week as demand concerns continue to offset geopolitical risks from the Middle East. However, oil is trading higher as Israel plans its next move on Iran after the weekend attack: ☑ A Hezbollah drone exploded near Israeli Prime Minister Netanyahu’s home on Saturday, prompting Israel to launch new military strikes on the group’s positions in Lebanon ☑ Israel has threatened retaliation against Iran following a missile attack earlier this month, adding to concerns over regional stability 👉 Get the latest #crudeoil updates sent directly to your inbox for free: https://hubs.li/Q02VbDyZ0 #marketupdate #wti #crude #oil #oott #opec #geopoliticalrisk #middleeast #israel #iran #hezbollah #supply #oilandgas #energyindustry #commoditymarkets #riskmanagement #oilandgasindustry #hedging

Read the CIA's sanitized 2010 CIA "Khark Island [also known as Kharg Island]: Iran's Principal Oil Export" report (https://lnkd.in/d2nzmQ_M) to better understand Iran's Supreme Leader Ayatollah Khamenei's dilemma. Although this report is dated, it still explains the centrality of Kharg Island's oil terminal to Iran's economy. Without Kharg's petrochemical facilities, the Iranian economy crumbles. Now if as promised Khamenei retaliates against Israel for attacking the Iranian consulate in Damascus on April 1, which resulted in the deaths of Brigadier General Mohammad Reza Zahedi, a senior Islamic Revolutionary Guard Corps officer, and six other Iranian military advisers, Israel will destroy the underground Fordo and Natanz nuclear enrichment facilities. But perhaps even more damaging, the Kharg petrochemical facilities will be reduced to rubble, and the Iranian rial will reel under the wreckage with no future possibility of funding Hamas, Hezbollah or the Houthis. Reuters reports that Iran has offered the US via Oman to undertake a "controlled", i.e. face-saving, response against Israel, but the US would have none of it (https://lnkd.in/dpEmm_xb). Of course, Iran would prefer to fight until the last Hamas, Hezbollah and Houthi gunman, but Tehran's proxies are beginning to get wise to Khamenei's self-serving antics.

The Biden administration recently pressed Ukraine to halt attacks on Russian oil refineries. Ukrainian strikes on refineries and tankers in the Black Sea have contributed to a rise in the global oil price, and specifically of oil products, especially diesel. Almost the last thing the Biden administration wants in an election year is higher fuel prices and associated inflation in other goods and services. But in acting to halt rising oil prices, Washington is undermining the Ukrainian war effort. Denying energy supplies to the adversary in war has long been a bedrock of military strategy. Washington’s policy toward adversary fuel supplies is likely to lengthen the Ukraine-Russia war, as well as the Gaza war.

Hamas v Israel: Why Aren't Energy Prices Higher? A global recession is unfolding, and has been for quite some time. Iran’s seeming inability to push oil prices up for any appreciable length of time, coupled with similar Russian and Saudi impotence despite their ongoing production cuts, is a loud and clear alarm klaxon that the global recession is getting deeper, and is likely to remain deeper for far longer than anyone realizes. https://lnkd.in/gGugDchx #Iran #MiddleEast #OilPrices #Energy #Economy

European leaders are not factoring in what happens if Iranian oil facilities are struck and Tehran retaliates with a broader assault against refineries throughout the Middle East. Europe is particularly sensitive to any disruption to the global energy market. #MiddleEast #oilmarket