Electronic boards showing stock information are pictured at the stock market, in Dubai, United Arab Emirates, November 5, 2020.
"Such an escalation could lead to increased oil prices, concerns about oil supply, and the potential for a global economic downturn."
In the unlikely event the United States sends troops into the Middle East, Belote expected a $20 jump in oil prices, "if not more".
"Israel has better relations with other Arab countries compared to then," JP Morgan private bank strategist Madison Faller said in a note, "and global oil supply is not as concentrated."
Reuters Graphics5/ TECH JITTERSWhat's good for oil stocks can be bad for big tech.
Persons:
Abdel Hadi Ramahi, Hamza Meddeb, Malcolm H, Brent Belote, Belote, JP, Madison Faller, Nadia Martin Wiggen, Alessia Berardi, Amundi's Berardi, Trevor Greetham, Morgan Stanley, Jeff, London's Greetham, Naomi Rovnick, Nell Mackenzie, Marc Jones, Dhara Ranasinghe, Sharon Singleton
Organizations:
United Arab Emirates, REUTERS, Kerr Carnegie Middle East Center, Oil, JP Morgan, Svelland, Reuters Graphics Reuters, U.S, Reuters, Swiss, Royal, Aegon, Deutsche Bank, Aerospace, Thomson
Locations:
Dubai, United Arab, Israel, Gaza, Beirut, IRAN, Iran, U.S, United States, Arab, Turkey, Ukraine, Egypt, Jordan, Iraq, Saudi Arabia, Qatar, Bahrain, Suez, London