Reference Message Network reported on June 14 that according to a report from the Financial Times website on June 13, crude oil prices surged on the 13th, recording the largest increase in more than three years, as Israel's threat of an airstrike on Iran endangered the region's crude oil supply and prompted investors to turn to safe-haven assets.
In early afternoon trading in the Asian market, international benchmark Brent crude oil prices rose by about 8% to $74.88 per barrel, while U.S. benchmark West Texas Intermediate crude oil prices increased by over 8% to $73.67 per barrel. Traders are concerned that this conflict may affect energy supplies in one of the world's most important oil and gas producing regions.
Michael Alvaro, Chief Investment Officer of the Italian hedge fund Gallo Partners, which focuses on investments in the energy and industrial sectors, said that an attack on Iran's nuclear facilities marks a "sharp escalation" in the conflict.
He said, "We will witness a conflict that could last for a long time, and it will almost certainly keep oil prices high."
The safe-haven asset gold rose by about 1.2% to $3427 per ounce during the Asian trading session.
The new outbreak of conflict poses multiple risks to the energy industry. (Translated by Guo Jun)
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