Limited repercussions on the markets after Israel’s attack on Iran which keeps tension high in the area from which a large portion of the oil and gas consumed in the world comes. Brent, oil extracted from the North Sea which is a reference point for European trade, is rising by around 2% and is approaching […]
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Limited repercussions on the markets after Israel’s attack on Iran which keeps tension high in the area from which a large portion of the oil and gas consumed in the world comes. The brentoil extracted in the North Sea which acts as a reference for the European trade, is up by about 2% and is approaching 90 dollars a barrel again. The increase in gas prices is more sustained and on the Amsterdam market it changes hands at almost 34 euros per megawatt/hour, up about 5% compared to yesterday. The worst case scenario, according to analysts, could be Iran’s closure of the Strait of Hormuz, key channel where the 20% of commercial LNG traffic (liquefied gas), whose supplies have compensated for Europe for most of the lost flows from Russia.
European stock exchanges are heading for a declining session with the worsening of the crisis in the Middle East, after Israel’s attack on Iran. The futures of the main stock exchanges (which anticipate the sign of the opening of the stock exchanges, ed) of the Old Continent and those of Wall Street are in the red, in line with the closure of the Asian stock markets (Tokyo – 2.6%; Hong Kong – 1.3%). Gold rises very slightly a $2,382 an ounce The US rating agency Standard & Poor’s lowered Israel’s rating to “A+” from “AA-“. The outlook passes by stable to negative. A decision that reflects the risk that the war between Israel and Hamas and the confrontation with Hezbollah could “aggravate or influence economic parameters, Israel’s fiscal and balance of payments manner more significant than currently expected,” explains the agency.
Tags: Attack Iran falling stock markets gas flareup risks Strait Hormuz cuts Israels rating
