Oil prices have been notably steady in the context of worsening geopolitical tension as Iran began direct attacks on Israel in March. WTI was $80.63 on March 22 and $83.14 on April 21 while, over the same period, the OPEC basket price increased from $85.56 to $87.35. There was a short, sub-5% spike in most benchmarks when Israel fired back at Iran but most traders say that a $5 to $10 risk premium feels about right unless Iran moves to close the Strait of Hormuz. OPEC+ maintains its production …
⊗
To continue reading, please login below or subscribe here.
Username or E-mail
Password
Remember Me
Forgot Password
