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06 Jan 2020 | 17:51 UTC — London
London — Oil continues to price in a risk of Iran retaliating for the killing of General Qassem Soleimani.
S&P Global Platts Analytics estimates the risks of a broader US-Iran conflict below 50/50, but there is growing concern over the security of energy infrastructure in the Gulf and Strait of Hormuz.
"Despite anxiety throughout the region over a possibly imminent retaliation, Iran is likely to respond indirectly at a time of its choosing," said Paul Sheldon, chief geopolitical advisor at Platts Analytics.
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Factbox: Commodity markets on tenterhooks as Persian Gulf risks surge