More than 70 percent of investors say an attack on Iran’s nuclear facilities would create only a short-term disruption in oil markets, according to a quarterly Bloomberg Global Poll.
About a third of the 1,209 global investors, traders and analysts surveyed Jan. 23-24 said an attack may trigger an oil shock leading to a global recession.
The European Union agreed Jan. 23 to ban oil imports from Iran starting July 1 as the West increased pressure on the Islamic republic to halt its nuclear program. An Iranian member of parliament reiterated the same day his country will respond by closing the Strait of Hormuz, the regional transit point for about 20 percent of the world’s oil, the Fars news agency said. Saudi Arabia has pledged to make up for any lost production.
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