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Oil Markets Already Priced in Iran Attacks: Energy Aspects

OIL

The Iranian attack on Israel was well known about prior to its launch, leading to a lack of price impact on Monday according to Energy Aspects Head of Research Amrita Sen in a CNBC interview.

  • Sen said “this was so well telegraphed, I think the market had already priced in that there would be an escalation, there would be an Iranian reaction.”
  • “The next step is going to be to see how Israel reacts” Sen added.
  • “We do think there are signs that it will not be escalatory – if that’s the case then we will stay pretty range bound” she said.
  • “If you look at the physical market right now, its very strong, the $10 move is geopolitical but ultimately its physical fundamentals” Sen added.
  • “That is the point I want to stress, we are low on stocks pretty much everywhere, then if you get geopolitical tensions like this, then you could see $100/bbl” Sen said.
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