Oil Markets Dental Braces for Volatility Amid US-Iran Tensions
Oil costs are poised for more gains after shutting near a four-year high Friday in the middle of escalating stress in between the U.S. and Iran. President Trump provided a 48 -hour last offer for Iran to reopen the Strait of Hormuz, endangering to “wipe out” Iranian power plants.
- Demand: Trump requires Hormuz Strait resuming within 48 hours.
- Retaliation: Iran threatens attacks on Gulf energy, desalination centers.
- Market Impact: Brent crude shut at $ 112 19/ barrel, highest possible because July 2022
- Supply Concerns: Professionals advise of prolonged disruptions, potentially lasting 6 months.
Experts anticipate a possible rate spike if the last chance remains. The situation elevates concerns of additional dispute.
