Oil Extends Surge on Report Iran Orders Retaliatory Strike
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 31 2024
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Source: Bloomberg
Iran's Retaliatory Actions: Iran has ordered a direct strike on Israel following the assassination of Hamas' political leader, escalating tensions in the region and impacting oil prices, with Brent crude surpassing $81 a barrel.
US Oil Market Dynamics: Despite recent declines in US crude stockpiles, concerns over Middle Eastern conflicts and OPEC+ production plans are driving bullish sentiment in the oil market, while negotiations for peace in Gaza face challenges after key leadership changes.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
