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OIL: Strikes on Iran’s Oil Facilities “Least Likely” Option: ANZ

OIL
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Israel strikes targeting Iran’s oil facilities in response to Iran’s missile attacks earlier this week is the “least likely” available option, according to ANZ Group cited by Bloomberg.

  • Strikes on oil facilities to disrupt to Iran’s oil revenue would upset Israel’s partners, including the US, the EU, and Gulf states. The strikes would also likely leave Iran with “little to lose, potentially provoking a more ferocious response.”
  • The impact of any attack on oil facilities would be short lived and OPEC spare capacity should cover any shortfall.
  • A sustained price rally is only expected in a worst-case scenario of disruptions to Strait of Hormuz oil transit.
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Israel strikes targeting Iran’s oil facilities in response to Iran’s missile attacks earlier this week is the “least likely” available option, according to ANZ Group cited by Bloomberg.

  • Strikes on oil facilities to disrupt to Iran’s oil revenue would upset Israel’s partners, including the US, the EU, and Gulf states. The strikes would also likely leave Iran with “little to lose, potentially provoking a more ferocious response.”
  • The impact of any attack on oil facilities would be short lived and OPEC spare capacity should cover any shortfall.
  • A sustained price rally is only expected in a worst-case scenario of disruptions to Strait of Hormuz oil transit.