RE: The BP share price going forward...?1 Oct 2024 16:14
If Iran were to attack Israel, it would likely cause oil prices to increase significantly… The Middle East is a critical region for global oil supply, and any conflict involving major players like Iran and Israel can create uncertainty and fears of supply disruptions.
Iran is one of the world's largest oil producers and exporters. In the event of a conflict, there could be disruptions to Iranian oil exports, either due to military action targeting oil facilities or sanctions and restrictions imposed by other nations. The Strait of Hormuz, through which a significant portion of the world's oil supply passes, could also be affected..
A conflict between Iran and Israel could escalate and involve other countries in the region, increasing the risk of supply chain disruptions across multiple oil-producing nations. This would put upward pressure on prices. History has shown that any significant military action or conflict in the Middle East typically leads to higher oil prices, reflecting the region's importance to global energy markets.
China also showing signs of increased demand.. and oil price is very low compared to 6 months ago. See what’s happens.