Enbridge Inc

ENB: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 17.00	Bvqsz	Zxlqcpb

Israel’s Response to Iran’s Strike Confirms Minimal Escalation View; Oil Markets Remain Oversupplied

Stephen Ellis

Apr 19, 2024

Israel has launched strikes against Iran in retaliation for an attack on April 14 (see our April 15 note for more analysis). The limited scope of Israel’s attack, which also included targets in Syria and Iraq; Iran's subdued response; and the ample warning Israel provided confirm our view that both parties wish to de-escalate tensions. We’d characterize this as a de-escalation attack. This view is in line with broader US and Group of Seven goals.

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