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| Name | Oil falls as Middle East tensions escalate |
| Video Uploader | Video From Yahoo Finance |
| Upload Date | This Video Uploaded At 29-01-2024 21:45:32 |
| Video Discription | A drone strike that killed three US soldiers in the Middle East has escalated regional conflicts and irritated oil markets (CL=F, BZ=F). Prosper Trading Academy CEO Scott Bauer and Eurasia Group Middle East Practice Head Ayham Kamel analyze the potential fallout on Yahoo Finance Live. Kamel warns, "This is not going to be a comfortable few weeks at all." Kamel believes the attack's near-term impact on oil supply will be limited, saying it's "contained". However, he expects the Biden administration will likely undertake some military response targeting militias in Iraq and Syria. Broader action on Iran seems unlikely, with Kamel citing "reluctance" to stoke inflation and considerations around "Biden's own position domestically." He believes Biden will aim to "be careful" and restrict long-term escalation. Meanwhile, Bauer asserts "the bottom line is oil prices are on their heels right now" amid weak demand. Though geopolitical tensions could move prices, the impact appears muted as risks are already priced in. Bauer sees crude oil in a "bearish" macro position and is enthusiastic about the current volatility for traders, suggesting investors look to sell. About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life. - Get the latest news and data at finance.yahoo.com - Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO) - Follow Yahoo Finance on social: X: http://twitter.com/YahooFinance Instagram: https://www.instagram.com/yahoofinance/?hl=en TikTok: https://www.tiktok.com/@yahoofinance?lang=en Facebook: https://www.facebook.com/yahoofinance/ LinkedIn: https://www.linkedin.com/company/yahoo-finance |
| Category | News & Politics |
| Tags | Yahoo Finance | Personal Finance | Money | Investing | Business | Savings | Investment | Stocks | Bonds | FX | Currencies | NYSE | Equities | News | Politics | Market | Markets | Yahoo FInance Premium | Stock market | oil |
