Oil takes off amid indicators that supplies are not affected by the Middle East tension

Oil prices have dropped amid indications that the conflict in the Middle East can avoid the production of crude oil, as Iran tries to calm Israel tension. Brent ruol fell 1.3% to settle at $ 73.23 a barrel, while the RU -“West Texas Intermediate” fell 1.7% to jump below the $ 8 throughout the day and jump within a $ 8 series. US President Donald Trump said Iran wants to talk about the calm of the conflict, which helped calm the fear of the outbreak of a long -term war, which could affect a region that produces about a third of global crude oil. “The question is: Will Israel truly be open to it? Nevertheless, these statements indicate that the talk across the street of hormuz, perhaps the threat, exaggerated, said. ” The tension is the master of the situation, but the oil markets remain tense after Israel launched an attack on the “Southern Pars” gas field, which stopped the work of one of the production platforms, after strikes directed the Iranian nuclear sites and military leaders last week. However, the important infrastructure of the export of crude oil has not yet been damaged, and the important “hormuz street” is not closed. Although it is the greatest danger of targeting gas production in Iran, the greatest danger facing the oil market is the ‘street of hormuz’. About one fifth of the global daily supplies go through the region through this now waterway, and prices can rise more than Tehran tries to disrupt the loading movement. Oil prices are still much higher than their levels before the start of the attacks. The crude oil increased by more than 7% in the session that followed the start of the air strikes on Friday, which led to the record of record trading in deduction offers, in addition to intense trading in futures and option contracts. The Wall Street analysts rushed to highlight the risks the conflict could pose. “RBC Capital Markets” said that the fact that both parties target energy infrastructure is a clear cause, note that the most important export center on the island of Kharj and Iraq oil fields is also at risk. Morgan Stanley increased its expectations for the price of crude oil by $ 10 a barrel based on the increasing risks due to the conflict. The largest damaged RU market is currently, most of the consequences were limited to the shipping market. The British Navy said navigation signals in the ‘street of hormuz’ and the Arab waves are facing increasing jams in terms of level and density, which affects the GPS reports a lot. Some of the shipowners are regularly accepting discussions in the region, pointing to safety issues. Transport prices jumped to China through huge oil tankers on Friday with more than 20%. In the absence of any disruption of supplies, the potential impact of the attacks has so far been limited to the demand side. Egypt has accelerated to find alternatives to fuel supplies to avoid power cuts after the conflict disrupts the flow of gas of Israel. The prices of fuel that can be used to generate electricity jumped on Monday. The price of high sulfur fuel oil in Europe is close to registering a rare bonus compared to the price of crude oil, while diesel has recorded its strongest levels since February.