Oil prices have not spiked in response to the latest US-Iran escalation over the weekend, and markets are stabilizing, according to Israeli economic sources. The apparent calm is reportedly leading to a postponement of an expected interest rate hike to September, pending inflation data due tomorrow.
Tuesday morning briefing from Israeli economic sources indicates that oil prices have held steady through the weekend escalation between Washington and Tehran, despite earlier market volatility that saw sharp swings in recent weeks. The sources assess that markets are stabilizing, and that the Bank of Israel is now leaning toward postponing an interest rate hike from July to September, pending inflation figures due Wednesday.
The assessment follows a volatile period for oil prices driven by US-Iran tensions and the subsequent peace deal, as The Zioneer has reported. Brent crude fell to $83 on the deal announcement (June 15), then spiked 5% on talk jitters (June 17) before extending losses. The single-source report is unconfirmed by official central bank or government statements; the postponement remains a market assessment.
The inflation data due Wednesday is expected to be a key factor in the final decision.
Source and signal
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- Internal intake