Global oil traders are weighing development in the Middle East after Iran launched attack on Israel. Although, while that has not immediately impacted oil supplies it has increased freight costs and boosted oil demand as the global fleet is forced to make longer voyages. Prices, which already include a risk premium of about $10 a barrel, bbl, are poised to push higher, according to Iman Nasseri, Middle East managing director at consultancy FGE. Prices could add another $2 to $5 a bbl due to concern of further Israeli reprisals or…
Read MoreGlobal Crude Freight Costs Spike Over Iran Attack On Israel
