Rising Middle East Tensions Could Be Passing Storm for World Economy -- Market Talk
Dow Jones06-16
2302 GMT - Escalating tensions in the Middle East are unlikely to have a lingering impact on the global economy, says Tim Rocks, chief investment officer at Evans and Partners. Rocks adds that he will be looking for opportunities to add to positioning in any volatility. There could be a spike in oil prices, but Iran accounts for only 3% of global oil production. OPEC's spare oil capacity is currently elevated, so the loss of Iranian supply can be managed, he says. The main risk is a blockade or attacks on ships through the Strait Of Hormuz, as roughly 20% of global crude oil passes through this Iranian-controlled bottleneck, Rocks says. (james.glynn@wsj.com; @JamesGlynnWSJ)
(END) Dow Jones Newswires
June 15, 2025 19:02 ET (23:02 GMT)
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