Israel’s Ynet studies that US strikes on Iran are more and more possible. The report citing Israeli diplomatic sources estimates that the brand new Iranian proposals don’t meet the American threshold circumstances. One of many sources estimated there’s a excessive likelihood the US will launch an assault.
“It’s exhausting for us to see the Individuals strolling this again,” one other Israeli official was quoted as saying.
US and Iranian officers arrived in Geneva at present and can meet tomorrow.
I might estimate there’s a $5-7 premium in oil costs already because of the likelihood of a strike based mostly on the massive US navy construct up within the area. WTI crude oil at present is up 9 cents to $65.72 and could not dump regardless of headlines saying OPEC+ might hike manufacturing on the weekend and an enormous US weekly stock construct.
So it is clear the oil market is ‘shopping for the rumor’ however will it ‘promote the actual fact’? If the US launches strike which might be aimed toward something lower than regime change, I believe there’s a danger of disappointment. We have now seen this script many instances earlier than the place solely hours after the bombs fall, oil tops as income are taken.
