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Here’s What Analysts Say About Oil After Middle East Attacks
A drone strike that killed US troops in Jordan and a separate attack on a fuel tanker in the Red Sea have led to an escalation of tensions in the region key to energy production and global trade. The White House blamed Iranian-backed militias for the assault on US soldiers, which was denied by Tehran, while Houthi rebels claimed responsibility for the attack on the ship. Here’s what analysts and an Asian oil refiner say about the outlook and impact on the oil market: Mizuho Bank Ltd. The oil market “has been exposed to a buffet of supply-side risks,” said Vishnu Varathan, a chief economist for Asia ex-Japan at ... (full story)