.SPX mountain 2022-01-01 S & P 500 Oil prices jumped Monday following the latest Middle East violence, with West Texas Intermediate crude oil futures climbing 3.7%, trading above $85 a barrel. Alpine Macro said volatility in the energy market could drag on if the conflict escalates further. "Short-term, the risk means prices should increase in the next few days and weeks," Alamariu said. In the most extreme scenario, where Israel strikes Iran's nuclear facilities, oil prices could soar above $150 per barrel, the firm said. "Israel's retaliation strategy is still TBD, but expect a very strong response, lasting weeks, if not months, and thus heightened geopolitical and market volatility," Alamariu said.

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Persons: Dan Alamariu, Alamariu, Yoav Gallant Organizations: Hamas, Federal, West Texas, Israeli Locations: Israel, Russia, Ukraine, U.S, Gaza