Iran, Israel Downplay Conflict, Crude Oil Investors Wait & Watch; Prices Remain Stable | Details
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oil inched lower on limited fresh signs
of escalating conflict in the Middle
East but prices howed above monthly lows
as technical support limited losses West
Texas intermediates most active June
contract settled near $82 a barel after
plunging almost 2% earlier the US
Congress though moved to sanction Iran’s
oil sector keeping the conflict between
Israel and Iran contents both the
countries however have downplayed
further escalation of war between the
two soothing a lot of oil investors
analysts believe prices may continue to
see Sharp swings last week crud posted
the biggest weekly drop since February
even after recent declines oil is
roughly 14% higher this year investors
will be focusing on a slew of US
economic data this week including the
FED reserve’s preferred measure of
inflation which will give more clues on
the path for monetary policy it’s highly
unlikely that the US fed might cut
interest rates before the end of this
calendar year as latest inflation data
is still worrying for the US economy
Iran is the third largest producer in
the opic according to Z’s data despite a
wide range of existing us sanctions its
oil shipments have increased due to
demand from China and networks outside
the US Financial system Israeli forces
and lebanon’s armed group hullah have
been exchanging fire for over 6 months
in parallel to the Gaza War fueling
concerns about further escalation what
do you think about the latest conflict
do you think prices of crude oil might
surge in the coming weeks please let us
know in the comment section
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Iran, Israel Downplay Conflict, Crude Oil Investors Wait & Watch; Prices Remain Stable | Details
Why oil prices still stable inspite of the Middle east crisis?
#israel #iran #middleeast #crudeoil #benjaminnetanyahu #raisi #ayatollahalikhamenei #modi #narendramodi #worldwar3
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