Analyst: Oil could hit $80 even without 'full-blown' U.S.-Iran war
It’s always useful to have a sense of Middle Eastern history, as financial markets swirled following the news of the U.S. airstrike that killed a prominent Iranian general in Baghdad.
Crude-oil futures BRN00, +4.09% shot up some $8 a barrel, the largest one-day rise in history, and analysts speculated that prices could climb further. Within days, however, those gains were erased, and investors became comfortable enough with the security situation that Saudi Aramco 2222, +0.14% later in the year was even able to go public.
Henry Rome, an analyst at Eurasia Group, expects Iran to retaliate for the assassination of Qassem Soleimani but stopped short of calling his death the next Franz Ferdinand.
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