Crude oil futures rose slightly Thursday after a four-day losing streak as fears of a supply disruption in the Middle East eased and a surplus looms over the market next year.
Here are Thursday's energy prices:Israel has reportedly told the U.S. that it will refrain from hitting Iran's oil facilities in retaliation for the Islamic Republic's Oct. 1 ballistic missile attack.
The oil market sold off steeply Tuesday on reports that Israel will limit its strike to military targets in Iran.
An attack on oil facilities, however, could disrupt 1.4 million bpd of Iran's production, Saraswat said.
A full-blown war could lead to Iran choking the Strait of Hormuz, jeopardizing 12 million bpd of oil and "driving up prices sharply," the analyst said.
Persons:
Aditya Saraswat, Saraswat
Organizations:
Rystad Energy
Locations:
Israel, retaliating, Iran, East, Hormuz, jeopardizing