Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Fire and smoke rise into the sky after the Israeli attack on the Shahran depot depot on June 15, 2025 in Tehran, Iran.
Getty Images | Getty Images | Gets the image
Directors of the two major energy companies control the events between Iran and Israel – but they are not going to make firm forecasts at oil prices.
Both countries traded by blows last weekendOnce on Friday, Israel is sent to nuclear and military facilities in Iran, died by some of its leading nuclear scientists and military commanders.
Speaking at the Asia Energy Conference in Kuala -Lumpur on Monday, Lorenzo Simonelli, President and CEO of Energy Technology Company Baker Hughes, CNBC said “A boxed box as Asia“This” my experience was, never try to predict what oil price will be because there is one sure thing: you will be mistaken. “
Simonely said that the last 96 hours were “very fluent” and hoped that there would be de -escalation in the region.
“When we go forward, we will obviously follow the situation, like everything.
At the same conference, Meg O’Nel, CEO of the Australian Oil and Gas Giant Woodside Energy, also said CNBC that the company is following the influence of markets around the world.
She emphasized that the prices are already experiencing “very significant” effects in the light of events over the last four days.
If deliveries through the Strait of the High Council are affected, it would even more affect the prices, as customers around the world will fight for meeting their own energy needs, ”she added.
As of Sunday, Strait remained open, reports Advisory from the joint sea information center. It states: “There is a story about the media about the potential blockade (Hormuz Strait). Jmicus does not have confirmed information indicating the blockade or closure, but will closely monitor the situation.”
Iran was reported by considering The closure of the Strait of the Highus in response to the attacks.
O’Nel said that oil and gas prices are closely linked to geopolitics, citing examples dating from World War II and oil crisis in the 1970s.
However, it will not make a solid forecast for the price of oil, saying, “There are many things we can predict. The price of oil in five years is not what I would have tried to bet.”
The Harmus Strait is a vital waterway between Iran and the United Arab Emirates. About 20% of world oil goes through it.
This is the only sea route from the Gulf to the open ocean, and the US energy administration has described It is like “the most important oil transit point”.
