Oil hits five-month high after US hits key Iranian nuclear sites
1. Oil prices soared to January highs amid U.S.-Israel tensions over Iran. 2. Supply concerns due to military actions could affect crude markets.
FAQ
Why Bullish?
Historically, escalated geopolitical tensions, especially in oil-producing regions, often lead to price spikes. Oil price increases could positively influence BNO’s performance, as it tracks Brent crude oil prices.
How important is it?
The rising oil prices triggered by military actions could have noticeable impacts on ETFs like BNO that track Brent crude prices, increasing their attractiveness as commodities.
Why Short Term?
The immediate effects of these geopolitical tensions on oil prices are likely to be felt quickly. Similar past events have shown that oil prices react swiftly to supply concerns.