Major market reaction, and like you say weve seen prices up over 4 fuelled by the conflict in the middle east and it comes after oil prices suffered the biggest weekly drop since march last week which was reversing a lot of the price action we have been seeing betweenjune and september this year which of course was because of Supply Constraints from saudi arabia and russia but this increase in geopolitical risk is providing a major tailwind to Oil Prices Today and The Big Question really is the market is wondering whether there is iranian involvement in the attack which is something that has been alleged by the israeli authorities because if they are, the tensions are likely to have a more longer lasting upward impact if it were to negatively impact oil surprise and supplies in terms of pushing Prices Higher so it depends on that. Pushing Prices Higher so it depends on that. 0k, we have the sense depends on that. 0k, we have the sense of depends on that. 0k, we have the sense of how de
laptop to your shoes, yorkers, for example. laptop to your shoes, yorkers, for example- laptop to your shoes, yorkers, for example. 0k, janet, good to see ou for example. 0k, janet, good to see you and for example. 0k, janet, good to see you and happy for example. 0k, janet, good to see you and happy new- for example. 0k, janet, good to see you and happy new year - for example. 0k, janet, good to see you and happy new year to l see you and happy new year to you. thank you for your analysis this morning. let s stay on the subject of trade, because the new year marks the significant expansion of the brics trading bloc. five countries are now officially members, they are saudi arabia, iran, egypt, ethiopia, and uae. the announced expansion of the five nation brics club was described as historic by chinese president xi jinping. the original brics are brazil, russia, india, china, and south africa and china was the state pushing hardest for group expansion as a way to counter western
Those interest rates have risen so much, inflation at least core inflation still remains sticky. So, they have got their own domestic economic problems. The US also faces re-elections next year. So they really do not need geopolitical tensions to continue to escalate and I think that is what both sides are seeing.