Oil prices spiked early on Wednesday morning
Crude oil price s were up early on Wednesday morning following reports that the leader of Hamas , Ismail Haniyeh was killed in Iran. Hamas confirmed the reports of his death, claiming he had been killed by a “treacherous Zionist” attack on his residence in Tehran. Haniyeh was in Iran to attend the swearing-in ceremony of the country’s new president.
could start bringing back production from October despite the direction that prices have taken recently. said earlier this year that it might start unwinding the production cuts in the final quarter of the year if the market conditions support such a move. A downward trend is not exactly the market conditions that the cartel had in mind but apparently a lot of traders still expect the move to be made.
is meeting tomorrow for one of its regular monitoring meetings which is not expected to produce anything in the way of surprising news. By Irina Slav for Oilprice.com
Oil Price Brent Geopolitics Hamas Hezbollah Israel
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