Energy CEOs cautious on forecasting oil prices

The CEOs of the two major energy companies follow the developments between Iran and Israel – but they are not about to make definite estimates about oil prices.

Both countries have traded a strike trade after Israel targeted nuclear and military facilities in Iran on Friday and killed some of the best nuclear scientists and military commanders.

Speaking at the Energy Asian Conference in Kuala Lumpur on Monday, Lorenzo Simonelli, the President and CEO of the Energy Technology Company Baker Hughes, said that CNBC is “my” experience “of” Squawk Box Asia “, and what the oil price would be. “

Simonelli said the last 96 hours was “very fluent” and expressed his hope that there will be an increase in tensions in the region.

“As you progress, we will follow the situation like everyone else. It moves very quickly and we will estimate the direction of the next step.”

At the same conference, Meg O’Neill, Australian oil and gas giant Woodside Energy CEO, said CNBC also followed the company’s impact on the world markets.

In the light of the events of the last four days of advanced prices already “very important” effects stressed.

“This will be even more important effects on prices because customers will try to meet their energy needs,” he added if the materials from the Hormuz Strait are affected.

The Bosphorus remained open as of Sunday. A Advisory from the Joint Maritime Information Center. “There is a media narrative about a potential blockade. [Strait of Hormuz]. JMIC has no approved knowledge of a blockade or closing, but it will closely follow the situation. “

Iranian Reportedly The closure of the Hormuz Strait in response to attacks.

O’Neill, oil and gas prices in the 1970s II. He said that he was closely linked to geopolitics, referring to the events based on World War II and oil crisis.

However, “There are many things we can imagine. In five years, oil price is not something I can try to bet.”

The throat of the hormuz is a vital waterway between Iran and the United Arab Emirates. It exceeds about 20% of world oil.

It is the only naval route to the open ocean from the Persian Gulf and the US Energy Information Administration defined “The world’s most important oil transit Choketepoint”.