For profit: Iran attacks Israel. Is it time to invest in oil?

The Ministry of Labor and Social Protection today publishes data corresponding to the month of September. Evolution of employment in Spain. In particular, Unemployment increased by 3,164 peoplebringing the total to 2,575,285. However, the reality is much more serious than official figures reflect, since the union The USO figure is 3.7 million. the total number of unemployed people after adjusting the statistical composition of ERTE and intermittent permanent contracts.

Jose Luis Fernandez Santillanafrom the USO trade union, delved into the data that the organization provides about the reality of the labor market, emphasizing what the ministry tells us pompous “film”because there is no net job creation. In this regard, he emphasized that there is an excess of seasonal work.

For my part, Che Cabelloprofessor at the University of Malaga, condemned the government’s “trilerism” regarding employment data and the little peace of mind that signing thirty contracts a year gives workers. Thus, he noted that young people cannot find work and are forced to leave the country, in addition to the fact that income gap has widened between Spain and the European Union.

In the market space Marta Escribanofrom Salmon Mundi Asesores, noted that the escalation of the current conflict in the Middle East will inevitably lead to an increase in oil prices, especially considering that 20% of global supply crude oil It originates from the Persian Gulf region. However, he emphasized that in this context, attacks on oil refineries or in the Strait of Hormuz could occur. Moreover, he noted that we must forget upcoming US presidential elections and that each country will try to impose the price of oil according to their interests and how they think it might influence the outcome of the election.

In this sense, Gustavo Martinezfinancial consultant and professor at Francisco Marroquín University, explained that although the factors influencing oil supply and demand are not very predictable, if we take into account that energy policies have contributed reduction in investment in the sector (which caused supply contraction) and that oil demand in developing countries will continue to rise, we cannot expect prices to fall. Likewise, Martinez advised investors to view a situation like the current one as an investment opportunity since global stock markets have always tended to recover after conflicts.

Finally, Nuria Richard previewed the next episode of the podcast Economía Para Quedarte Sin Amigos and Anton Diez Tubetof Trade Republic, reiterated another piece of anti-advice: “don’t invest in financial products just for their tax advantages.”