Oil Prices Could Surge if Israel Targets Irans Export Facilities

Oil prices may jump by $US10 to $US15 per barrel if Israel targets Iran's export facilities, warned Pierre Andurand, hedge fund manager at Andurand Capital Management. He highlighted that such an attack could disrupt approximately 1.7 million barrels of oil daily, which, while small in a global market of 100 million barrels a day, could still tighten supply and push prices higher.

Andurand also noted that current low inventories and speculative positioning further elevate the risk of a price increase. "We face significant supply risks from Iran," he added, suggesting that global oil markets are vulnerable to such geopolitical tensions.

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