Iran says it could take a ‘lengthy’ time to retaliate towards Israel

A spokesman for the Islamic Revolutionary Guard in Iran today laid out an uncertain timeline for an attack on Israel in response to the assassination of Hamas’ political leader in Tehran.

“Time
is on our side and it’s possible that the waiting period for this
response will be long,” Islamic Revolutionary Guard Corps Spokesman Ali
Mohammad Naeini was cited as saying by Iranian state TV.

“It’s
possible that Iran’s response won’t be a repeat of past operations,” he
said, adding that Israel “must await calculated and precise strikes at
the appropriate time.”

Oil prices rebounded today by 66-cents after four days of declines. The market will undoubtedly turn its attention elsewhere now and has likely concluded that there won’t be an operation on the scale of the one we saw in April.