Oil prices projected to decline, but temporarily, after Israel's restrained airstrikes on Iran.
Oil prices are projected to decline when trading resumes Monday, following Israel's restrained airstrikes on Iran, which avoided disrupting its oil and nuclear infrastructure. This lack of significant damage resolved market uncertainty and is expected to reduce the geopolitical risk premium, with Brent crude potentially returning to $74-$75 a barrel. Analysts suggest the temporary price dip may be short-lived as the market had not incorporated a large risk premium.
October 26, 2024
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