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sudden oil price surgeTelegraph
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70% Informative
Oil prices have risen 6pc since Iran 's attack on Israel , taking it to heights not seen since August .
The Middle East looks like a tinderbox, and the Middle East is a 'tinderbox' Oil prices are highly inelastic: because nobody can easily change course, huge price movements are needed to bring supply and demand back in line.
A cessation of Iranian exports could give a hefty price shock well into double digits.
A doubling of oil prices would knock off somewhere between 1-2pc of euro area GDP.
That sort of rise is well within the range of possibilities for a large regional conflict damaging exports from Saudi Arabia and the UAE .
It would also tip the eurozone from weak growth of 1pc to stagnation or recession.
VR Score
71
Informative language
66
Neutral language
54
Article tone
informal
Language
English
Language complexity
40
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
7
Source diversity
1
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