Following the attack by Hamas on Israel on October 7, traders initially priced in a $3 to $4 risk premium when oil markets opened. The International Energy Agency (IEA), known as the world’s leading energy regulator, has recently warned that the global energy market is likely to remain volatile as the war between Israel and Hamas persists. The IEA Warning on Energy Market According to a CNBC report, the IEA stated in its latest monthly oil market release that, while the conflict has not...
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