International oil prices surged following Israel’s airstrikes on Iran and Lebanon by more than 4dollars
Following news of Israel’s airstrikes on Iran and Lebanon, international oil prices rose by more than 4dollars per barrel, and concerns over supply disruptions resurfaced. Futures and spot markets reacted immediately.
International oil prices rose after news emerged that Israel had carried out airstrikes against Iran and Lebanon. According to reports, prices rose by more than 4dollars per barrel. The move came shortly after geopolitical risks in the Middle East worsened.
The airstrikes were reportedly aimed at specific targets in Iran and Lebanon. The areas concerned include locations associated with crude oil production and transportation routes. As a result, supply-side uncertainty was immediately reflected in the market.
International oil futures and spot prices rose together. Trading showed supply concerns being reflected in prices. Volatility in energy-related assets also increased.
This incident has once again highlighted the risks facing Middle Eastern crude oil exports in the market. The possibility of supply disruptions was immediately reflected in price premiums. Investors experienced increased short-term price volatility.
The key issues going forward are whether there will be further military action and disruptions to shipping routes. If additional clashes occur, transportation disruptions could become a reality. In that case, further fluctuations in oil prices may occur.
In the short term, crude oil supply-and-demand indicators and the responses of major oil-producing countries are expected to determine the direction of prices. The release of major inventory indicators next week and the reactions of oil-producing countries will draw attention. Market participants checked the relevant schedules and announcements.
Sources: Reuters,Yahoo Finance
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