Yet, after a few days of anxiety following the bloody Oct. 7 raids by Hamas militants in Israel, energy markets have been slumping. Mr. Alkadiri said that traders are unlikely to bid up prices unless they see “actual barrels removed” from the market. Saudi Arabia and other producers have been trying to support prices by reducing their oil output. Forecasters are warning that 2024 could be a difficult year in the oil markets. Haves and Have-notsAs the fighting continues, traders have figured out that when it comes to oil there are haves and have-nots in the Middle East.

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Persons: Brent, hasn’t, ”, Richard Bronze, Raad Alkadiri, Alkadiri, Helima Croft, Croft, “, Biden, “ It’s Organizations: Eurasia Group, U.S . Energy Information Administration, ”, Group, American, RBC Capital Markets, Central Intelligence Agency Locations: Israel, London, China, Saudi Arabia, United States, East, Gaza, Iraq, Iran, Saudi, Hormuz, Ukraine, ”, Persian