Gas prices impact to depend on Iran retaliation

Gas prices impact to depend on Iran retaliation

The prices of gas are going to be turbulent in the month of January after the air strikes in United States had killed the top general of Iran on Friday however the experts are not expecting it to change the forecast for the gas prices being slightly lower for the year 2020 later.

Gen. Qassem Soleimani’s killing who was the head of the elite Quds Force in Iran has sent the prices of oil a little higher on the markets including the Mercantile Exchange of New York.

This market reaction is as per the predictions of the experts of oil and gas however where the prices are going to go is going to be dependent on what the next move of Iran is.

The analysts have said that they are likely to seeing the prices of oil a little higher however it does not see the huge increases until and unless there are more skirmishes which follow this strike up in the Persian Gulf however the reaction of Oil on Friday had stayed extremely muted.

The traders of Professional commodities want the mistakes to be avoided which had been committed in the middle of September when the missile attacks had taken place on the facilities which produce oil in another country Saudi Arabia which had pushed the prices of oil by close to $8 and $9 per barrel. They had increased one month later.

The experts and analysts feel that it is way too early to predict a reaction as the oil prices are going to have an impact and it is going to depend mostly on the reaction Iran and the degree of their retaliation.

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