Jun. 22 at 4:00 PM
$PED "An oil price jump is expected," said Jorge Leon, head of geopolitical analysis at Rystad and a former OPEC official. "Even in the absence of immediate retaliation, markets are likely to price in a higher geopolitical risk premium."
Global oil benchmark Brent crude could gain
$3 to
$5 per barrel when markets open, SEB analyst Ole Hvalbye said in a note. Brent settled at
$77.01 a barrel on Friday and U.S. West Texas Intermediate at
$73.84.
Ole Hansen, analyst at Saxo Bank, said crude could open
$4 to
$5 dollars higher, with potential for some long positioning being unwound.
