Oil prices to remain elevated as Middle East tensions threaten a wider conflict, CBA analyst warns
Publishing timestamp: 2024-08-25 23:13:53
Summary
Tensions in the Middle East, including exchange of fire between Israel and Iran-backed groups, are expected to keep oil prices elevated. Despite the risk of wider conflict, experts believe that all-out war is not imminent and there is still room for de-escalation. The potential for Israel to attack Iran's oil supply and infrastructure could further impact global oil supply and prices.
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Keywords: foreign policy, wti crude (mar'23), ice brent crude (apr'23), israel, iran, business news, oil and gas,