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All of this adds to what the International Energy Agency has already described as the worst global disruption in the energy sector in history, even surpassing the Arab oil embargo of 1973, which caused fuel shortages and led to widespread economic damage.
Dan Pickering, Chief Investment Officer at Pickering Energy Partners, said: “This crisis cannot be solved by conservation. What will happen is that prices will rise to a level that will make people stop consuming.”
So far, the crisis has led to the market losing about 400 million barrels of supply – equivalent to global supply for four days – causing prices to rise by about 50 percent.
#qhtani #قحطاني
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All of this adds to what the International Energy Agency has already described as the worst global disruption in the energy sector in history, even surpassing the Arab oil embargo of 1973, which caused fuel shortages and led to widespread economic damage.
Dan Pickering, Chief Investment Officer at Pickering Energy Partners, said: “This crisis cannot be solved by conservation. What will happen is that prices will rise to a level that will make people stop consuming.”
So far, the crisis has led to the market losing about 400 million barrels of supply – equivalent to global supply for four days – causing prices to rise by about 50 percent.
#qhtani #قحطاني
$📌Trump's deadline threatens to turn off the lights
📌Half a trillion in the coffers of arms giants
📌Paradoxes of war: "Subzero" gas in Texas.. and Europe struggles to secure it
📌On the doorstep: a food and clothing crisis and a jump in flight ticket prices
Start your day with the most important economic news
#qhtani
$JTO
$JOE
$JUV
#قحطاني
📌Half a trillion in the coffers of arms giants
📌Paradoxes of war: "Subzero" gas in Texas.. and Europe struggles to secure it
📌On the doorstep: a food and clothing crisis and a jump in flight ticket prices
Start your day with the most important economic news
#qhtani
$JTO
$JOE
$JUV
#قحطاني
#qhtani #قحطاني
🔵 The global markets reacted directly to the United States targeting Iranian infrastructure, despite President Donald Trump's statements about calming down and the possibility of reaching an agreement.
📌 The prices of gold, silver, oil, gas, and copper recorded strong collective increases, driven by the escalation of the ongoing war for a month.
📌 Silver prices jumped close to 70 dollars per ounce, while gold continued its rise to 4495 dollars, and copper prices recorded about 5.4685 dollars per pound.
📌 At the same time, crude oil rose to 99.6 dollars, while Brent crude recorded 112.5 dollars, and natural gas recorded 3.025 dollars per million thermal units, while gasoline rose to 3.25 dollars and heating oil to 4.495 dollars.$ETH
$ETC
$EOS
🔵 The global markets reacted directly to the United States targeting Iranian infrastructure, despite President Donald Trump's statements about calming down and the possibility of reaching an agreement.
📌 The prices of gold, silver, oil, gas, and copper recorded strong collective increases, driven by the escalation of the ongoing war for a month.
📌 Silver prices jumped close to 70 dollars per ounce, while gold continued its rise to 4495 dollars, and copper prices recorded about 5.4685 dollars per pound.
📌 At the same time, crude oil rose to 99.6 dollars, while Brent crude recorded 112.5 dollars, and natural gas recorded 3.025 dollars per million thermal units, while gasoline rose to 3.25 dollars and heating oil to 4.495 dollars.$ETH
$ETC
$EOS
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