DECRYPTION – The Iranian attack on Israel caused the price of crude oil to rise by $5. The scenario of a new shock resurfaces while the market has been on a downward trend for a year.
The reaction was immediate and strong. Monday afternoon, as soon as the first information on the Iranian missile attack against Israel appeared, the price of oil soared. The barrel of Brent listed in London, the main world reference, rose in four hours from 70.75 to 75.40 dollars. A brutal increase of 5 dollars, or more than 6.5%. In recent months, successive increases in tension have hardly increased the price of black gold. This time, the scenario of a regional conflagration seems more credible than ever and the specter of an oil crisis with global repercussions resurfaces. In the oil market, the ultimate fear is a halt to maritime traffic in the Strait of Hormuz, which separates Iran from the Arabian Peninsula. Around 20 million barrels pass through it every day, or a third of the volumes transported by sea and a fifth of global consumption.
An oil crisis with a return of the barrel to 100 dollars, the level reached…
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