UK Business

Why Israel-Iran tensions might not raise prices at the pump as much as feared (for now)

Written by Adi Imsirovic, Lecturer in Energy Systems, University of Oxford

The unexpected attack by Israel on Iran, a major oil-producing nation, may undermine anaemic global economic growth and hinder central banks’ ability to cope in an already uncertain market.

Iran exports up to 2 million barrels of oil and refined petroleum products per day (million barrels per day – mbd). Due to long-...

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