Oil Price Surge Threatens Asian Currencies

Oil Price Surge Threatens Asian Currencies

The currencies of several major Asian oil importers are ripe for depreciation with the spike in international crude oil prices, analysts at Barclays said on Tuesday.  The surge in oil prices in recent days “implies risks for most Asian FX in the near term, especially if oil prices move even higher in the event of a potential escalation in the conflict,” Barclays’ analysts wrote in a note to clients carried by Bloomberg.  Thailand’s baht, the Tai…

Oil prices surge 12% amid tensions in the Middle East

The conflict between Iran and Israel causes concern among many. In addition to the fact that this situation can escalate into a large-scale conflict, this conflict will also bring consequences on the market. On the world markets, oil prices experienced a huge jump, of an average of 12%, reaching the highest levels since the end of January, as traders fear the disruption of supplies from the Middle East, following Israel's attack on Iran. Some fe…

Market Jitters over Gulf Tensions Raise Energy Costs

Tensions between Israel and Iran have sparked a surge in oil prices this June, causing effects across the U.S. energy landscape. Although the actual flow of oil has not been interrupted, market jitters over Middle East supply have lifted global benchmarks, pushing up gasoline prices and affecting producers, drillers and consumers alike. The sharpest move came when Brent crude jumped nearly 7 percent in a single session, climbing from the mid‑60s…