Bjarne Schieldrop, chief commodities analyst at Swedish bank SEB, said that if Iran's oil infrastructure is wiped out, prices could "easily" go to $200-plus a barrel.
Iran, which is a member of the Organization of the Petroleum Exporting Countries , is a major player in the global oil market. So much so, it isthat as much as 4% of the world's supply could be at risk if Iran's oil infrastructure becomes a target for Israel." on Thursday, Bjarne Schieldrop, chief commodities analyst at Swedish bank SEB, said escalating tensions in the Middle East could have dramatic consequences for the market.
Speaking during a visit to Qatar on Thursday, Iranian President Masoud Pezeshkian said his country was "not in pursuit of war with Israel." He warned, however, of a forceful response from Tehran to any further Israeli actions.
The 2019 attack by Yemen's Houthi rebels on Saudi Aramco facilities prompted a sharp rally in oil prices at the time. "That is definitely something every side is talking about, right? The U.S. is involved in this. I don't think we can forget the fact that we have U.S. elections coming up in days, so I think the message from them very clearly is do not hit energy infrastructure. Equally, do not hit the nuclear facilities," Sen said.
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