PT Solid Gold Berjangka | Oil Steady With Fallout From Israel-Hamas War Still Contained
The provided text describes the current situation in the oil market in relation to the Israel-Hamas conflict and its potential impact on global oil prices and stability. Here’s a summary of the key points:
- Oil Price Surge and Market Stability: Oil prices, specifically West Texas Intermediate (WTI), surged to around $86 a barrel following Hamas’ surprise attack, causing a war-risk premium in the market. Saudi Arabia has pledged to ensure market stability and supports efforts by OPEC+ to balance oil markets.
- Israel-Hamas Conflict: The conflict between Israel and Hamas has led to significant casualties on both sides, with concerns about the potential expansion of the war and its impact on the Middle East, a major global crude oil supplier.
- Potential Involvement of Iran: There is a concern that Iran, a supporter of Hamas, could be directly involved in the attack, posing a threat to oil flows. Stricter enforcement of American sanctions on Iranian crude exports or attacks on key shipping lanes are potential risks.
- Risk of War Broadening: Analysts highlight the chief concern of the war broadening across the region, emphasizing the potential for disruptions and the importance of stabilizing the oil market through OPEC+ efforts.
- Oil Price and Market Status: WTI for November delivery is trading near $85.98 a barrel, while Brent for December settlement has risen to $87.73 a barrel.
The ongoing conflict and its geopolitical implications continue to influence the oil market, with a focus on potential disruptions and efforts to stabilize the market by key oil-producing nations, particularly Saudi Arabia and OPEC+.
Source : Bloomberg , SOLID GROUP, PT SGB, SOLID GOLD BERJANGKA
Source : Bloomberg , SOLID GROUP, PT SGB, SOLID GOLD BERJANGKA
Source : Bloomberg , SOLID GROUP, PT SGB, SOLID GOLD BERJANGKA