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OIL: Iran Energy Facilities Not Israeli Preferred Action: JP Morgan

OIL
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Low global oil inventories are supporting a sustained geopolitical risk premium according to JP Morgan on Friday. 

  • “Shifting dynamics in the Middle East might create a greater urgency to replenish inventories,” supporting oil prices for longer
  • “We assume that attacking Iran’s energy facilities would not be Israel’s preferred course of action” its analysts said.
  • Recent military successes against Hezbollah “might embolden Israel to press its advantage and hit back hard at Iran and its axis of resistance, even at the risk of military and political losses”
  • JP Morgan says it’s also unlikely that Iran will target oil and gas from Gulf Arab countries, “given the recently upgraded diplomatic ties with GCC countries”
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Low global oil inventories are supporting a sustained geopolitical risk premium according to JP Morgan on Friday. 

  • “Shifting dynamics in the Middle East might create a greater urgency to replenish inventories,” supporting oil prices for longer
  • “We assume that attacking Iran’s energy facilities would not be Israel’s preferred course of action” its analysts said.
  • Recent military successes against Hezbollah “might embolden Israel to press its advantage and hit back hard at Iran and its axis of resistance, even at the risk of military and political losses”
  • JP Morgan says it’s also unlikely that Iran will target oil and gas from Gulf Arab countries, “given the recently upgraded diplomatic ties with GCC countries”