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S&P Global: Under the escalation of the Middle East situation, the global economy is facing an unprecedented 'dangerous period.'
S&P Global Vice Chairman and energy expert Daniel Yergin stated on Tuesday that due to escalating tensions in the Middle East, the global economy is entering an unprecedented "dangerous period." Yergin pointed out that he expects Israel's retaliation to be not just a replay of April, but to be "more intense."
Crude Oil Futures Pull Back After Rally -- Market Talk
Why Oil and Gas Markets Are Dreading the Risk of Supply Disruption in the Strait of Hormuz
The Middle East conflict combined with a hurricane approaching, Brent crude oil rose above $80 for the first time in a month, with WTI crude oil temporarily rising over 4%.
Over the weekend until Monday, Israel was successively attacked by missiles from Lebanon and Hamas. Hurricane Milton rapidly escalated into a Category 5 hurricane in the Gulf of Mexico on Monday, threatening local fuel supplies. The meteorological department warned that the Tampa area in Florida will face the most severe storm in over a century.
Oil Options Show Market Sees Further Gains on Middle East Risks
Careful of soaring oil prices? Goldman Sachs warns: the oil market is completely unprepared for escalation in the Middle East conflict.
Goldman Sachs analyst Lindsay Matcham stated that further escalation of the conflict may have a significant impact on the market, especially if the conflict involves the potential closure of the Strait of Hormuz, which could likely lead to a surge in local oil prices; Goldman Sachs analyst Lina Thomas, in another report, highlighted four short-term positive drivers in the crude oil market - mentioning the Middle East trend.
