It looks very much like the US are going to get involved in the conflict militarily. I would expect the chances of Iran surrendering are roughly zero given public statements and history. If Iran starts bombing US military assets in the Middle East in response, then Saudi Arabia, Bahrain, Iraq, Kuwait, Qatar, UAE, and Syria could potentially be in the firing line given these are countries that host them. It might only take a few off-target missiles to create a wider regional flare up. Obviously a fair amount of the world's oil supply comes from those countries, I can't see the price of oil going anywhere but up in the short term. Even if Iran doesn't actually make strikes, the risk premium would surely be much higher than it is at present (I think it is already significantly underdone). Wars in the Middle East have lasted between six minutes and forty years historically...
WDS Price at posting:
$25.65 Sentiment: Buy Disclosure: Held
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