Brent Crude (OIL) rallies more than 3% today, ahead of US API inventories report scheduled at 9:30 PM BST. The major driver of higher oil prices are of course geopolitical tensions. Ukrainian president, Zelenskyy, signalled that approximately 12,000 troops from North Korea are in preparation to join Russia in the war. Israeli media passed that, possible response to Iran may include targeting homes of Iranian official due to Netanyahu assassination attempt, by Hezbollah.
The current jump in oil prices came in after US Secretary Blinken - Netanyahu meeting. Yesterday, Israeli forces informed that the army eliminated Hezbollah's head of money transfers unit, in Syria. The US also charged Iranian Revolutionary Guards officials, according to court documents, also Turkey blocked exports of military-linked goods to Russia after a US warning. Also, very solid macro reports from the US support oil prices momentum.
Source: xStation5
Cattle futures fall amid JBS plant strike, rising corn and Middle East 📌
An elevated oil price is here to stay as supply concerns grow, equities fall
Morning Wrap: Conflict Escalation Pushes Oil to $100 (12.03.2025)
Daily summary: Oil still pressures Wall Street despite favorable CPI data 🗽
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
