Oil reduces the profits after its rise due to the US bombing on Iran

Oil reduced the profits it had earlier in the session with the fear of crude supplies from the Middle East, after the United States performed air strikes aimed at three important core facilities in Iran. Brent rough rose 5.7% to $ 81.4 a barrel, which is the highest level since mid -January, before giving up a large part of his profits to spread 1.4% at $ 78.05 a barrel at 12:20 a.m. While the RAW contracts in Western Texas increased the delivery from 1.3% to $ 74.79. Bloomberg quoted Bob McCalli, founder of Rabidan Energy Advisers and former White House of energy affairs, saying that “the market traders are starting to think that nothing is really happening: The price of the barrel has increased 10 dollars since the war started, and now a little more, and I think the market is in an appropriate risk.” He added that “the traders have held their breath, pending whether Israel or Iran will expand this conflict to influence the energy trade, and not just the military and political goals.” He continued: “Until now, no one has pushed the trigger, and if that doesn’t, I see that prices can go back to fall.” This increase comes after US President Donald Trump said in a speech over the weekend that the air “crushed” the three targets and threatened more military measures, unless Iran agreed to peace. In his first reaction, Tehran warned that the strikes would lead to “serious consequences”. At the same time, the Iranian parliament has asked for the ‘hormuz’ to be the sea, which passes one of the global oil production, according to the official television. However, the implementation of such a move requires explicit approval by Iranian guide Ali Khamenei. The market is concerned because the beginning of the conflict dominated the global oil market for more than a week when Israel launched attacks on Iran. This tensions led to high futures, as trading volumes jumped in options markets, the delivery costs rose and in the short term price curves showed the fear of providing scarcity. Fear is currently focused on the ‘street of hormuz’ and whether Iran will actually use it to block it or affect the movement of navigation in it, in response to the US strikes that have targeted nuclear facilities. “If Iran has only closed the street of hormuz one day, oil prices could temporarily rise to 120 or to $ 150.” “The market is possible on the way to reach the 100 dollars price as Iran responds as before and threatened.” He added: “This US attack can lead to conflict.” The flow over the sea street is still stable, no concrete decrease in supplies throughout the sea, but rather that Iran is in a hurry to increase its exports as part of its logistical response to the conflict. Avoid expanding the war and prevention of supplies to fall oil prices, which will also reduce the prices of all goods that have risen with the effect of the rise of oil. Although the movement in the sea street was not affected, the tension was increased from ship prices to the region. The cost of hiring a ship to transport crude oil from the Middle East to China jumped by about 90% compared to the level before the Israeli attacks. The profits of the fuel carrying fuel, such as fuel and aircraft fuel, have also been increased, in addition to the rise of insurance allowance. The GPS signals (GPS) are exposed to confusion in about a thousand ships per day, exacerbating the safety risks. *The prices have been updated to reflect the reality of the market