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Financial Markets Have Underestimated Duration of Iran Conflict: Dragonfly
Financial markets appear to have underestimated how long and disruptive the conflict in the Middle East is likely to be, according to an analysis by Dragonfly.
Crude prices rose 27% last week, to around $92 a barrel for Brent, the international benchmark. Without a resolution to the fighting in sight, disruption in the energy markets could deepen in the coming weeks, the analysts said. Dragonfly is a risk analysis and security intelligence service owned by Barron’s parent company, Dow Jones.
“There are few signs that the US is considering a negotiated end to the conflict anytime soon. And there is a reasonable chance that Yemeni Houthis will join the regional conflict in the coming days, resuming attacks on Red Sea shipping,” Dragonfly analysts said.