Javier Blas: 10 Things Oil Traders Need to Know About Iran's Attack on Israel

OPEC+ has sufficient spare production capacity to control a price rally, but its approach to increasing output will be crucial.Iran's direct attack on Israel on Saturday evening is viewed certainly as an escalation in the Middle East conflict. Tehran's missile and drone attack (widely unsuccessful) has been well-telegraphed (read: here & here) for the last two weeks, pushing up Brent crude oil futures above the $90 a barrel mark on heightened geopolitical risks in the region.  Iran's direct attack on Israel could lead some traders to reevaluate…