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The First Gulf War started when US attacked Iraq on 17th January 1991. But the real war had started when Iraq invaded Kuwait on 2nd August 1990 and proclaimed it as Iraq’s province. Tension was already simmering between the two countries (more…)

Iraq’s invasion and subsequent stoppage of Kuwait and Iraq oil supplies resulted in shortage of approximately 6.9 percent of oil production. But the oil price shock resulting from the invasion was very dramatic. Oil prices doubled within two months to over $40 a barrel from $20 a barrel (more…)

To analyse any long term impact of the First Gulf War on crude oil prices, we compare the crude oil prices in a decade prior to war with crude oil prices in the decade after the First Gulf War (more…)

Futures not only reflect the actions till date but also incorporate the likely course of action. The future prices show what traders expect to happen. Futures allow companies or traders to purchase contracts to buy or sell crude oil at some time in future (more…)