The intensifying conflict between Israel and Hezbollah has resulted in a small jump in crude prices on Friday afternoon.
Crude prices are seeing a sharp rise today, with WTI trading at $68.52 per barrel, up 1.26%, and Brent crude at $72.27 per barrel, up 0.94%. These gains are driven primarily by escalating tensions in the Middle East, particularly the intensifying conflict between Israel and Hezbollah . This volatility is prompting fears of further disruptions to oil supply and maritime routes.
The Houthis in Yemen have also increased attacks on U.S. vessels and Israeli targets, further destabilizing the area. The growing uncertainty in the region, coupled with fears of more direct strikes on ports like Haifa and Eilat, has led to heightened risk assessments for shipping and oil transport. Insurance premiums are expected to rise as the potential for collateral damage to Israeli and neighboring maritime infrastructure looms.
Israel Hezbollah Oil Oil Prices Geopolitics Geopolitical Risk
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