According to White House commentary, but also Bloomberg and Axios agency reports, Iran prepares to imminently missile attack to Israel. This situation, if true, is negative news for financial markets (especially stock market), but 'good news' for oil prices, which are supported by geopolitical concerns and potential of disrupting supply in a case of broader Israel - Iran countries, as both countries probably have nuclear weapons.
Yesterday, Israeli armed forces started military, local ground operation in Southern Lebanon. It is worth remembering that Iran is responsible for oil production of 3.3 million brk per day and exports of about 1.5 million brk per day. Most of this oil is purchased by China.
Source: xStation5
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