Israel's indiscriminate air strikes on Palestine's Gaza and the US military conflict in Syria and Iraq have disrupted the oil prices.
The sun sets behind an operational pumpjack, Wednesday, March 9, 2022, outside of Goldsmith, Texas. / Photo: AP
The strikes on two facilities in eastern Syria used by Iran's Revolutionary Guard Corps and groups it backs was in response to recent attacks on US troops in Iraq and Syria, the Pentagon said on Thursday. "As a trader, I'm going to have to say we are somewhat out of our league here - trying to ascribe a value to geopolitics when no meaningful supply has been disrupted outside of the Levant," said Kelvin Yew, a senior oil trader at Ocean Leonid Investments.Israeli forces carried out their biggest Gaza ground attack in their 20-day-old war with Hamas overnight, angering the Arab world.
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