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Stock impact report

Why Israel Iran Skirmish Failed To Move Oil Price Above 6-Month Highs [Forbes]

Planet Labs PBC Class A (PL) 
Company Research Source: Forbes
With the dust having settled on the latest geopolitical flare up in the Middle East, global crude oil prices have largely stayed in the range they were prior it to having happened - at 6-month highs but well shy of the psychological 3-figure price above $100 per barrel that some predicted would be hit. For context, tensions escalated on April 1, 2024 when an alleged Israeli strike in Damascus, Syria killed 13 people, including two Iranian generals and five officers, and demolished a part of Iran's consulate in Syria. Among the dead was Brigadier General Mohammad Reza Zahedi, a senior commander of Iran's Islamic Revolutionary Guard Corps' elite overseas unit - the Quds Force - in Syria and Lebanon, who had alleged links to terrorist group Hamas with whom Israel has been at war since October 7, 2023. It followed a first-ever retaliatory attack by Iran on Israeli soil on April 13 with some 300-odd drones and ballistic missiles. Most of these were shot down by Israel Defense Forces Show less Read more
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