“Why terror attacks on Israel mean surging energy prices”
October 10, 2023
“Conflict in the Middle East has a history of pushing up oil prices. The Yom Kippur War between Israel and a coalition of Arab states in 1973 triggered an oil embargo that caused prices to nearly quadruple in a year. The oil shock sent inflation surging and contributed to a lost decade.
Now, the brutal Hamas attack on Israel has prompted fears of a new energy crisis. “This month marks 50 years since the 1973 oil shock,” Deutsche Bank analysts wrote in a note sent to clients on Monday…”
https://finance.yahoo.com/news/why-terror-attacks-israel-mean-082036602.html
You know what I just noticed something. During all these wars major oil infrastructure is never damaged beyond repair. It’s amazing how there’s all this fighting in the middle east and the oil industry is never critically damaged. Long story short. If oil infrastructure is never attacked nor damaged during any of these wars why should energy prices, particularly the price of oil, increase?