Rising oil prices due to geopolitical tensions in the Middle East
- Rising prices: Brent and WTI crude futures rose 1.27% and 1.41% respectively in response to geopolitical tensions and the risk of supply disruptions.
- Geopolitical risk: Israeli attacks in Lebanon and missile launches from Iran are escalating tensions in the region, causing oil prices to rise.
- Uncertainty: Although U.S. crude oil inventories are rising, investors remain cautious due to concerns about global supplies and uncertainty about further developments in the Middle East.
Theoretically, oil could go up now, but somehow I am not attracted to commodities.
It might be interesting, but I'm not really interested in oil.
It will have some effect, but it probably won't be anything major.
Obviously the conflict has and will have an effect on the price of oil, but I wouldn't see it as anything as big as, say, after the Russian invasion.