Iran stimulates oil prices; uncertainties high, USD60-70/bbl WTI price likely
Volatility in international oil prices has intensified as Qassem Soleimani, leader of the Islamic Revolutionary Guard was killed in a US airstrike on Jan 3 at Baghdad’s international airport. As a result, we believe oil prices will come under increasing upward pressure for the time being. Barring extreme risks, oil prices ((WTI)) are expected to fluctuate between USD60/bbl and USD70/bbl. Meanwhile, uncertainties will likely continue, depending on the scope and length of Tehran’s response.
China launched ICBM-class submarine-launched ballistic missiles into the Gobi Desert on