Myra P. Saefong, assistant global markets editor, has covered the commodities sector for MarketWatch for 20 years. She has spent the bulk of her years at the company writing the daily Futures Movers and Metals Stocks columns and has been writing the weekly Commodities Corner column since 2005.
An earlier version of this story referred to the wrong day of the week. The article has been corrcted.
Price action Market drivers On the Middle East front, oil traders have “likely shifted into efficient market mode, waiting for signs of a definitive escalation that imperils supply before taking prices higher,” Stephen Innes, managing partner at SPI Asset Management, said in market commentary. The biggest worry surrounds Iranian oil flows, which could see up to 1 million barrels a day of crude knocked off the market if the U.S. were to more strictly enforce sanctions on the country’s exports, said Warren Patterson and Ewa Manthey, commodity analysts at ING, in a note.“In the absence of supply disruptions from the region, it is difficult to see a significant and sustained upside in prices,” they said.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Israel-Hamas war enters new phase as Israel expands offensive in GazaThis is additional taxonomy that helps us with analytics
Read more »
Israel war: Cori Bush calls Israel's operation against Hamas an 'ethnic cleansing'Jack Birle is a breaking news reporter for the Washington Examiner. A 2022 graduate of Villanova University with majors in communication and political science, he has previous journalism experience with the Center Square and as a fellow with the National Journalism Center. He was born in Pennsylvania and grew up in Southern California.
Read more »
War plunged Israel’s agricultural heartlands into crisis, raising fears for its farming futureThe Israel-Hamas war has plunged Israel’s agricultural heartlands into crisis.
Read more »
War plunged Israel’s agricultural heartlands into crisis, raising fears for its farming futureThe Israel-Hamas war has plunged Israel’s agricultural heartlands into crisis.
Read more »
War plunged Israel’s agricultural heartlands into crisis, raising fears for its farming futureThe Israel-Hamas war has plunged Israel’s agricultural heartlands into crisis
Read more »
Oil prices could reach 'uncharted waters' if the Israel-Hamas war escalates, the World Bank saysThe World Bank says oil prices could be pushed into “uncharted waters” if the violence between Israel and Hamas intensifies.
Read more »