What Would an All-Out War in the Middle East Mean for USA Gasoline Prices?
'It would mean extreme price volatility,' EIR warned.
'It would mean extreme price volatility,' EIR warned.
'The risk profile for commercial vessels operating in the region remains at severe/critical,' Dryad stated.
Israel launched a retaliatory strike on Iran following last week's missile and drone barrage from Tehran, according to two U.S. officials.
Analysts at Standard Chartered said they think geopolitical risk in oil has escalated significantly.
Oil fluctuated as markets weighed Iran's threats on Israeli nuclear sites against a stronger US dollar.
Washington will not renew a reprieve issued to Caracas for oil and gas activities, accusing the Maduro regime of reneging on a commitment to upholding fair elections.
'U.S. sanctions on Iran had greatly impacted reported volumes in 2018-20, but such volumes appear to have been brought back online,' a Senior Associate at Enverus Intelligence Research told Rigzone.
And what would that mean for oil prices?
The U.S. plans to allow a Treasury Department license permitting oil and gas production to expire without renewal on Thursday, according to people familiar with the plan.
Oil fell more than 3% to a three-week low as trend-following algorithms accelerated the day's selloff.