US strikes against Iran could see oil prices jump $10 to $20 or more with no deescalation
The US and Israel struck Iran early Saturday morning in what President Trump said was a bid to destroy the country's nuclear program and potentially remove the current regime from power. The move triggered immediate retaliation and may provoke a wider conflict that poses serious risk for the oil markets.
Futures on Brent crude (BZ=F), the international pricing benchmark, had jumped by roughly 2.9% to close above $72.80 on Friday, while those on US benchmark West Texas Intermediate (WTI) crude (CL=F) had moved up by a slightly smaller 2.8% to trade above $67 by Friday's close.
Without signs of deescalation over the weekend, prices could surge upward by as much as $10 to $20 per barrel when the market reopens Sunday night, Jorge León, head of geopolitical analysis at Rystad Energy, told Yahoo Finance.
"Given the scale of retaliation, most of the strategic initiative now lies with Iran," León said. "How Tehran chooses to respond over the next 24-72 hours — especially toward energy infrastructure or regional shipping — will be the primary driver of near-term oil market dynamics."
https://finance.yahoo.com/news/us-strikes-against-iran-could-see-oil-prices-jump-10-to-20-or-more-with-no-deescalation-143847017.html
But it's for free dumb (and billionaires' bottom line.)
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