Middle East conflict pushes surge in crude oil prices
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2023-10-09
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#crudeoil #israel #palestine #petrolprices
Oil price - Brent and West Texas Middle increased on Monday. Lock Points Middle East conflict increased oil price even more Middle East conflict pushed the oil price high drivers, warned to wait for higher gas prices in the pump Drivers, pump investment bank signals warned higher gasoline prices to wait for RBA walking interest rates to domesticate inflation was not made In general, oil price increased by about 4 to 5 percent in middle of AEDT in afternoon. The increase in demand stems from outbreak of the war between Hamas and Israel in Middle East - now it is entering its third day. "Israel does not produce much oil, so the main risk of Israeli conflict is that Iran is involved,"Said. The conflict is approaching 50th anniversary of the Yom Kippur War - an armed conflict between Israel and Coalition of Egypt and Syria. War coincided with the shortage of oil supply and led to a huge increase in the price of crude oil. It also produced a global inflation shock. Analysts do not see the repetition of this event at this stage. "If Israel does not officially enter war] [on the price of oil] [on price of oil], it will be small because it is not 1973 . However, Dr Oliver said he expects the oil price to increase and expects Australian drivers to go higher. "Risks are reversed in the near term," he said. "Oil prices fell last week and this would normally lead to a decrease in 10 ° liter to gasoline prices, but the conflict in Israel has reversed it partially, and especially if Russia reduces production, added a little bit of the risk ... About $ 2.25liter." When asked where the price of gasoline will go here, the national Australian Bank's chief economist, Oter, simply said "Up". The authority added that size of price increase will depend on oil price and value of Australian dollar. Automobile group NRMA was more careful to predict both oil and gasoline price. "We will see such a first shock in these conditions," [normally in the price of oil]. "[More price increases] depends on whether to increase Iran and Syria." Mr. Khoury acknowledged that this was "very worrying", but "he added that it was too early to estimate how high the unleaded fuel price in Australia could be. The price of gasoline is included in inflation measure or CPI, known as the consumer price index of Australian Statistical Bureau. The concern is that gasoline, rental accommodation, gas and electrical prices will continue to climb and print to increase the interest rates of Reserve Bank higher. The opposite argument is that wage growth remains relatively benign, ie consumer demand is weakening and previously RBA interest rate increases should be progressed throughout the system. However, Deutsche Bank's latest analysis, while the increase in wage is limited, the Australian household revenues increase as longer hours and more than one job. Investment Bank argues that it can enable RBA to increase its cash rate twice and push it to 4.6 percent
Oil price - Brent and West Texas Middle increased on Monday. Lock Points Middle East conflict increased oil price even more Middle East conflict pushed the oil price high drivers, warned to wait for higher gas prices in the pump Drivers, pump investment bank signals warned higher gasoline prices to wait for RBA walking interest rates to domesticate inflation was not made In general, oil price increased by about 4 to 5 percent in middle of AEDT in afternoon. The increase in demand stems from outbreak of the war between Hamas and Israel in Middle East - now it is entering its third day. "Israel does not produce much oil, so the main risk of Israeli conflict is that Iran is involved,"Said. The conflict is approaching 50th anniversary of the Yom Kippur War - an armed conflict between Israel and Coalition of Egypt and Syria. War coincided with the shortage of oil supply and led to a huge increase in the price of crude oil. It also produced a global inflation shock. Analysts do not see the repetition of this event at this stage. "If Israel does not officially enter war] [on the price of oil] [on price of oil], it will be small because it is not 1973 . However, Dr Oliver said he expects the oil price to increase and expects Australian drivers to go higher. "Risks are reversed in the near term," he said. "Oil prices fell last week and this would normally lead to a decrease in 10 ° liter to gasoline prices, but the conflict in Israel has reversed it partially, and especially if Russia reduces production, added a little bit of the risk ... About $ 2.25liter." When asked where the price of gasoline will go here, the national Australian Bank's chief economist, Oter, simply said "Up". The authority added that size of price increase will depend on oil price and value of Australian dollar. Automobile group NRMA was more careful to predict both oil and gasoline price. "We will see such a first shock in these conditions," [normally in the price of oil]. "[More price increases] depends on whether to increase Iran and Syria." Mr. Khoury acknowledged that this was "very worrying", but "he added that it was too early to estimate how high the unleaded fuel price in Australia could be. The price of gasoline is included in inflation measure or CPI, known as the consumer price index of Australian Statistical Bureau. The concern is that gasoline, rental accommodation, gas and electrical prices will continue to climb and print to increase the interest rates of Reserve Bank higher. The opposite argument is that wage growth remains relatively benign, ie consumer demand is weakening and previously RBA interest rate increases should be progressed throughout the system. However, Deutsche Bank's latest analysis, while the increase in wage is limited, the Australian household revenues increase as longer hours and more than one job. Investment Bank argues that it can enable RBA to increase its cash rate twice and push it to 4.6 percent
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