28 Oct 2024

  • Oil prices tumbled nearly US$4 a barrel on Monday after Israel’s retaliatory strike on Iran over the weekend bypassed Tehran’s oil and nuclear infrastructure and did not disrupt energy supplies, easing geopolitical tensions in the Middle East, according to Business Times.
  • Oil price gained 4% last week in volatile trade as markets priced in uncertainty around the extent of Israel’s response to the Iranian missile attack on Oct. 1 and the U.S. election next month. Scores of Israeli jets completed three waves of strikes before dawn on Saturday against missile factories and other sites near Tehran and in western Iran, in the latest exchange in the escalating conflict between the Middle Eastern rivals.
CROSBY Research – Crosby Bi-noculars (Bi-weekly Issue 69)