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.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: nbcchicago - 🏆 545. / 51 Read more »