• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 8 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 days They pay YOU to TAKE Natural Gas
  • 13 hours How Far Have We Really Gotten With Alternative Energy
  • 17 hours What fool thought this was a good idea...
  • 3 days Why does this keep coming up? (The Renewable Energy Land Rush Could Threaten Food Security)
  • 10 days The United States produced more crude oil than any nation, at any time.
Chevy Malibu Discontinued as Company Transitions to EVs

Chevy Malibu Discontinued as Company Transitions to EVs

Chevy's long-running Malibu sedan is…

Inflation Fears Keep Oil Prices Suppressed

Inflation Fears Keep Oil Prices Suppressed

The week began positively with…

Editorial Dept

Editorial Dept

More Info

Premium Content

Explaining the Israel and Iran Missile Exchange

Drone

Oil markets have largely discounted the Iranian missile and drone barrage directed at Israel because it was essentially a ruse designed not to inflict any damage, but to save face at home and abroad. Almost all of the missiles were intercepted by Israeli defense systems, yet Tehran was able to boast of its first direct attack on Israel. 

What should be more worrisome for oil markets is Israel’s response to Iran’s response (to Israel’s response), which came around midnight on Thursday, when first reports of an explosion inside Iran broke. The explosion took place in Iran’s Isfahan province, which houses its nuclear facilities, as well as a key Iranian military air base. Reports from the ground suggest no nuclear facilities have been damaged, and Iranian state TV is claiming zero damage. Military sources have told various media that the Israel strike was limited and that the U.S. had been informed in advance. After nose-diving this week, initial news of the explosions sent oil prices up nearly 3% late on Thursday. 

Oil prices then fell back again as an Iranian source claimed there had been no attack - suggesting Iran was keen to downplay the event.

This is a cat-and-mouse game. 

Iran’s “direct attack” on Israel was purposefully a failure, designed to complement Israel’s defense systems. Any other outcome would have been disastrous for Iran. 

What Tehran is now most concerned about is an Israeli strike on its nuclear facilities, and what the domestic…





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News