Oil news and market movers: Markets unease of Israel’s uncertainty
- Oil production is suspended at Kashagan’s major Gas and Oil field due to the start of scheduled overhaul, the Kazakhstan Ministry of Energy confirms to Interfax.
- A Goldman Sachs note from head analyst Daan Struyven sees Brent hit $90 when Iranian exports would be disrupted, Bloomberg reports.
- Tension in the Middle East remained elevated with over the weekend Israel sending in troops in northern Gaza, while aerial attacks and ground maneuvres in Lebanon were taking place at the same time, Reuters reported.
- Option markets are seeing a wave of buyers coming in with an appetite for call options, sending implied volatility for Brent to the highest level in almost a year, while money managers added more net-long positions to their portfolios, the Chicago Futures Trading Commission reported.
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