In the book I recommend to Chris, the author tells his trading friends(2008-2012) at Citi Forex desk how stocks thrive on apocalyptic scenarios. Hell, CRWV new high with AMD’s intermediate high.
Know all about Iran's oil but the uncertainty is what is driving Crude higher and higher. Especially about the possibility, repeat possibility, of Straits of Hurmuz being blocked by Iran. I'm not privy to Eyes Only Intel to say whether it is a real possibility or not. We can all speculate either way. I prefer not to.
(OILPRICE.COM) Will Israel Strike Iran’s Upstream Infrastructure? - As the Israel-Iran war shows no signs of abating, market participants are speculating whether Israel could target Iran’s oil export infrastructure after its strikes on the South Pars gas field. - Up until now, Iranian oil exports have seen no impact from the barrage of missile strikes with May exports posting a multi-year high of 1.8 million b/d and June loadings keeping the same pace so far. - Iranian producers of methanol, ammonia and urea have mostly shut production in a precautionary way, following strikes on the Tehran refinery, which the Iranian side reciprocated by hitting Israel’s 195,000 b/d Haifa refinery. - Israel has no crude production of its own, relying for imports to meet its downstream needs, however the Leviathan and Tamar fields could be targets for Iran’s missile strikes, prompting the Israeli government to shut both fields down.