Traders see "higher over time" prices.
"'Recent geopolitical escalations point to a more heightened attack on Iran, which is pushing crude oil higher along the price curve,' said Dennis Kiesler, senior vice president of trading at BOK Financial Securities Inc. 'Most traders take the latter action as a long-term increase in prices. '". Dennis Kiesler, Bloomberg, October 23, 2026 –.
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The market is pricing in a protracted conflict, not a quick solution. The merchants are betting that the war will continue and will raise prices in all areas.
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