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Oil Markets Remain Wary of Potential Iran Response

OIL

The WSJ reported on Thursday evening that Israel is preparing for a direct attack from Iran on southern or northern Israel as soon as the next 24 to 48 hours (the exclusive went out 7.47pm London time)

  • “A person briefed by the Iranian leadership, however, said that while plans to attack are being discussed, no final decision has been made.” WSJ reported.
  • Axios meanwhile reported Thursday that Iran is determined to respond to the Israeli bombing of its consulate in Damascus last week but will do so in an “appropriate and limited way” to avoid escalation.
  • Fears over the expected retaliation and its fallout for the region, including Iranian oil flows, has been a key driver for energy markets this week.
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