How Will Raisi's Death Affect Oil Prices?
Economy | 05/20/2024 Mawazine News _ Baghdad Igor Yushkov, an expert at the Financial University and the National Energy Security Fund in Russia, said that the death of the Iranian president may cause some fluctuations in the oil market, with some slight rise in prices.
This came according to Igor Yushkov’s statements to the “Novosti” agency, where he said: “There may be some fluctuations in the oil market, and there may be a slight rise in prices in the first moments, but I think it will return later, and in general we will not witness a rise in general.”
According to him, the possible escalation of the conflict in the Middle East could have a significant impact on prices if it turns out that a “third force” is involved in Raisi’s death. However, Yushkov believes that this option is unlikely, and believes that the matter will be considered an “accident” and is unlikely to have a significant impact on the oil market.
Brent crude prices rose as of 11:47 Moscow time by 0.05%, and futures contracts for July delivery are trading at about $84 per barrel.
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