Oil prices volatile as markets assess impact of Israel-Iran conflict

Stock and commodity markets are reopening after taking a beating on Friday when Israel attacked Iran. Oil is in the crosshairs. Tehran is a major oil supplier, so crude prices jumped 7% last week. Israel has been attacking energy infrastructure in the country while Iran has been threatening to close the Strait of Hormuz. About 20 percent of the world's oil passes through the Strait of Hormuz. At its narrowest, this waterway is about 33 kilometres wide, split between the territorial waters of Iran and Oman. At times of diplomatic tension, Iran has in the past threatened to disrupt shipping traffic. Naeem Aslam is Chief Investment Officer at Zaye Capital Markets. He says the longer the conflict goes on, the wider impact we could see in the markets. Subscribe to our channel: http://bit.ly/AJSubscribe Follow us on X: https://x.com/ajenglish Find us on Facebook: https://www.facebook.com/aljazeera Check our website: https://www.aljazeera.com Check out our Instagram page: https://www.instagram.com/aljazeeraenglish Download AJE Mobile App: https://aje.io/AJEMobile #Israel #Iran #IranIsraelWar #TelAviv #Tehran #IsraelAttacksIran #IsraeliArmy #IranianArmy #BenjaminNetanyahu #IRGC #Oil #Gas #LNG #StraitOfHormuz #GulfOfOman #OilTankers #GlobalOilMarket #GlobalTrade #MiddleEast #EnergySecurity #IsraelIranTensions #Geopolitics #EconomicImpact #OilAndGasTrade #AlJazeeraEnglish