hollydolly
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Oil prices have soared to nearly $110 per barrel amid Iranian reports that a facility in the world's largest natural gas field has been hit in an airstrike.
Brent oil was quoted at 108.21 dollars a barrel at the time of the London equities close on Wednesday, up from 101.95 late on Tuesday.
Although below the conflict's peak of 119.25, this remains well above the 73.08 level recorded on February 27, before tensions escalated.
If you thought it would be plain sailing into the FOMC meeting later this evening, think again,' remarked XTB's Kathleen Brooks.
'Markets are back in panic mode. The Brent crude oil price is surging and is higher by another 5 per cent today, the gold price is down 2.8 per cent and is below 5,000 dollars per ounce, bonds are getting sold off, yields are surging, and the dollar is rallying.'
She continued: 'Iran has warned Gulf nations that their energy assets and infrastructure are now legitimate targets...The risk is that an oil shipping crisis is morphing into an oil supply crisis.'
The increase followed a report that facilities belonging to Iran's oil industry in South Pars and Asaluyeh were attacked on Wednesday, Iranian state media reported, prompting Tehran to warn that it would target energy installations across Saudi Arabia, the United Arab Emirates and Qatar.
ran - and even some Gulf neighbours who have absorbed its energy-related strikes - condemned the attack.
'This will complicate the situation and could have uncontrollable consequences, the scope of which could engulf the entire world,' Iranian President Masoud Pezeshkian wrote on X.
Analysts have warned that any attack in South Pars would raise the possibility of retaliatory attacks by Iran on Gulf energy facilities, including those belonging to oil majors in Qatar.
Today at the pumps.... Nothing ! No fuel......these are photos I took today....
Brent oil was quoted at 108.21 dollars a barrel at the time of the London equities close on Wednesday, up from 101.95 late on Tuesday.
Although below the conflict's peak of 119.25, this remains well above the 73.08 level recorded on February 27, before tensions escalated.
If you thought it would be plain sailing into the FOMC meeting later this evening, think again,' remarked XTB's Kathleen Brooks.
'Markets are back in panic mode. The Brent crude oil price is surging and is higher by another 5 per cent today, the gold price is down 2.8 per cent and is below 5,000 dollars per ounce, bonds are getting sold off, yields are surging, and the dollar is rallying.'
She continued: 'Iran has warned Gulf nations that their energy assets and infrastructure are now legitimate targets...The risk is that an oil shipping crisis is morphing into an oil supply crisis.'
The increase followed a report that facilities belonging to Iran's oil industry in South Pars and Asaluyeh were attacked on Wednesday, Iranian state media reported, prompting Tehran to warn that it would target energy installations across Saudi Arabia, the United Arab Emirates and Qatar.
ran - and even some Gulf neighbours who have absorbed its energy-related strikes - condemned the attack.
'This will complicate the situation and could have uncontrollable consequences, the scope of which could engulf the entire world,' Iranian President Masoud Pezeshkian wrote on X.
Analysts have warned that any attack in South Pars would raise the possibility of retaliatory attacks by Iran on Gulf energy facilities, including those belonging to oil majors in Qatar.
Today at the pumps.... Nothing ! No fuel......these are photos I took today....
