Rising oil is still the big market risk despite today's pullback, analysts say
Publishing timestamp: 2024-04-15 10:59:01
Summary
Markets remained calm on Monday despite Iranian drone and missile strike on Israel. Long-term risk premia have increased, especially if oil market is significantly impacted. Global leaders are urging Israel to show restraint. Foreign exchange markets are pricing in near-term de-escalation. Oil prices cooled off from Friday gains. Economists and analysts agree that overall long-term risks and uncertainty are heightened. Potential Iranian blockade of Strait of Hormuz could cause oil prices to rally. European equity markets were slightly higher on Monday.
Sentiment: MIXED
Keywords: economy, wti crude (mar'23), ice brent crude (apr'23), oil and gas, business news, breaking news: markets, dxy us dollar currency index, breaking news: economy, markets,