瑞讯银行：霍尔木兹海峡风险仍支撑油价上行

Core Viewpoint - The ongoing conflict between Iran and Israel continues to support upward pressure on oil prices, despite a relatively calm market reaction at the beginning of the week [1] Oil Market Analysis - Analysts from Swissquote Bank indicate that both WTI and Brent crude oil opened higher but quickly retraced some gains [1] - Natural gas prices initially surged at the opening but also experienced a decline, similar to gold prices which retraced some of their earlier gains [1] - Some analysts believe that the conflict may ultimately suppress global economic growth, thereby limiting the potential for oil price increases [1] - Conversely, others argue that high oil prices could incentivize shale oil producers to increase output [1] Supply Risk Factors - The Strait of Hormuz, a critical chokepoint for one-third of global oil flow, faces risks of supply disruptions, suggesting that the balance of risks still leans towards rising oil prices [1]