Did the oil prices big dump after Iran attacked the US military base? Analysts: The attack does not hinder crude oil supply, Iran is able to save face.

Gate News bot news, Iran’s retaliatory strike on the US base in Qatar is not as serious as investors feared, alleviating market concerns that the conflict would immediately disrupt Middle East supplies, leading to a fall in oil prices. After Iran launched missiles at the US base in Qatar, US oil experienced a big dump of 4%, as traders were previously worried that Iran’s retaliatory response would involve closing the Strait of Hormuz, through which about one-fifth of the world’s oil passes.

Although there were initial concerns that Iran would interfere with supplies to retaliate against the United States, those worries have diminished. “In my view, this seems to be well-planned; Iran attacked an empty U.S. base, issued numerous warnings in advance, closed its airspace, and provided guidance for evasion,” said Harry Tchilinguirian, head of research at Onyx Capital Group. “Iran made a face-saving response, staying away from the Strait of Hormuz.”

Source: Jin Shi