Insight

Oil Markets Anxiously Await Middle East Crisis

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Algo Research Team

Market | Oct 07, 2024 | Views: 339

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Key Summary:

  • Iran's oil facilities could be targeted despite G7 pushbacks
  • Israel is provoking US & Russia for a wider involvement
  • Oil price under different scenarios on the conflict

Brent crude oil increased +10% last week on rising conflict in the Middle East as Israel's genocide and invasion in Gaza and Lebanon was met with Iran's air strikes retaliation, sparking fear of an all-out war.


What's the story? Today marks the anniversary of Hamas attack on Israel that ramified into a wider Middle East conflict, so it would be ominous if Israel's response to Iran is conducted today.

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