Iran lost highest ranking commander in Lebanon
Iran lost Esmail Kaani in Lebanon. Death not confirmed yet.
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Using KNN networks for swings and trends on daily basis.
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BuyLowSellHighTrader : will oil pump to 100 dollar / barrel?
20241017 : impossible
JonSnow OP BuyLowSellHighTrader : I am not sure, of course could be. For that to happen Israel has to render Kharg Island unusable. Or, Iran tries to close the street of Homus. If that happens it could go well beyond. But a likely scenario would be indirect effects, panic, obstruction rather then destruction. Jimmy Carter did think about it back then, but did not do it cause Europe would not be able to handle it. But these days there is alternative sources of Oil, North America, South America, Norway, Scottland. Of course ramping up production takes some time. So I think 90 is realistic, but we all know markets are erratic sometimes and tend to brush away reality, until it hits hard
JonSnow OP 20241017 : What makes it impossible?
JonSnow OP BuyLowSellHighTrader : for another part, in contrary to Jimmy Carter times, there aren't so many floating storages anymore, Oil is delivered these days JIT. So any supply issue, hits straight to the price.