News ID: 1593
Date: Wednesday 31 July 2024 - 19:36

What will be the reaction of the oil market to the assassination of Ismail Haniyeh?

What will be the reaction of the oil market to the assassination of Ismail Haniyeh?
An energy expert said: Now, one third of the oil consumed in the world passes through the Strait of Hormuz and the Persian Gulf. If this strait has a problem, they will not be able to supply this shortage easily, so the price of oil will rise.

According to Energy Press, Ali Asghar Zargar, in response to the assassination of Ismail Haniyeh and its effect on the oil market, said: There is no doubt that crises have an effect on the oil market, and usually this effect is immediate until the situation returns to its original orbit, but in Anyway, it depends on how Iran reacts and what happens next.
He added: Currently, the oil market is in complete balance in terms of supply and demand, the supply is much higher than the demand, but in any case, these events will change the price instantly by a few dollars, but in the long run, it depends on How will Iran react and what will be the impact of the next events?

This energy expert stated that the assassination of Haniyeh changes the price instantaneously and affects the oil market, saying: “Several factors affect the price; One is the amount of supply and demand in the world and how these two factors are related, the resources that exist in the world and the international crisis, especially in the Middle East region, has always been influential, so it can have an immediate and short-term impact unless That a crisis will arise in the Persian Gulf and the Bab al-Mandab strait will suffer, or that Iran will take measures on the Strait of Hormuz.

He stated: The heat and cold weather also affect the oil price and market, and the buyers and sellers affect the international oil market and increase and decrease the price.

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