ING says the oil market is now factoring in a higher risk premium due to rising geopolitical tensions following Israel’s strike on Iran.
uncertainty has increased significantlyIran produces around 3.3 million barrels of crude per day and exports around 1.7 millionif tensions escalate, it’s not hard to imagine a disruption in Iranian oil flows----
I suspect the Strait of Hormuz might be a danger zone for a while now too, another tailwind for oil.
Brent up
ps.
New explosions and air-defense activity reported over the Iranian capital of Tehrananother wave of strikes against the city by IsraelEarlier:
We got a 10 minute or so warning:
Financial Times reports Israeli strike on Iran could come today, Friday 13 JuneThen:
Explosions heard in Tehran - reports are sketchyIsrael says has launched a pre-emptive attack against IranMarket response to Israel attack on Iran: Yen up, Oil rockets higher.Israel’s Air Force conducted a strike in Iran - updateIsraeli official confirms attack on Iran - Iran's nuclear program an 'existential threat'Reports that Israel has detected missile launches from IranIsraeli PM Netanyahu- We targeted Iran’s main enrichment facility in NatanzUnconfirmed: Iranian jet fighters taking off, Iranian ballistic missile launches reportedUS warns Iran not to target U.S. interests or personnelReports of another wave of Israeli strikes on Iran has begunTrump convenes the National Security Council meeting at 11am on FridayIran says Israel and America will pay a very heavy price
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