Analysts: The market is preparing to climb oil

Investors and analysts said that the American attack on Iranian nuclear sites may raise oil prices to new summits, and pushes investors to rush to safe haven assets.

And reactions on the Middle East stock exchanges yesterday indicated that investors were not expecting the worst, even as Iran intensified its missile attacks on Israel in response to the sudden American bombing.

Investors expected the American intervention to stimulate stocks in stocks, and perhaps a demand for the dollar and the assets of other safe haven when resuming trading.

“I think the markets will be concerned at the beginning, and that the oil will start trading on a height,” said Mark Spindel. And fluctuations, especially in the oil sector.

Among the indicators to how the markets interact, during the trading of the new week, is the price of “Ethar”, the second largest encrypted currency and the new scale for the morale of individual investors after “Bitcoin”, which the institutions now buy mainly, as the currency price decreased 5% yesterday, to increase its losses that incurred it to 13% since the start of Israeli strikes on Iran on June 13.

However, most of the Gulf stock markets seemed not affected by the attacks, which occurred early yesterday morning.

“A lot depends on how Iran responds in the coming hours and days, but this may put us on the course of $ 100 a barrel if Iran responds as it has previously threatened,” said Sol Cavunic, chief of energy analyst at MST.

Brent crude futures increased by 18%, since June 10, to reach its highest level in approximately five months at $ 79.04, last Thursday, but the “Standard & Poor’s 500” index did not witness a change after it decreased at the beginning of Israeli attacks on Iran on June 13.

In his comments after the announcement of the American intervention, the administrative partner in the “Harris” financial group, Jimmy Cox, suggested the rise of oil prices due to reports, but Cox expects prices to be stable within a few days.

Economists warn that a significant increase in oil prices may harm the global economy, which is already suffering from pressure due to Trump’s customs duties.

However, history indicates that any decline in stocks may be transient, during the previous prominent events, which led to inflamed conditions in the Middle East, the shares decreased at first, but they quickly recovered to rise in the following months.

The Widbush Cicuriez and Cap I. Pro data showed that the Standard & Poor’s 500 index fell on average 0.3%, in the three weeks that followed the start of the conflict, but it came up to rise 2.3% on average after two months of conflict.

The escalation could lead to different effects on the dollar, which fell this year amid fears of the dwindling of American excellence, and analysts saw that the United States will directly enter the Iran -Israeli war that could benefit the dollar at the beginning thanks to the search for a safe haven.