MOSCOW, March 2. /TASS/. The escalation of the conflict in the Middle East has led to a significant rise in oil and precious metals prices, positively affecting the share prices of Russian oil and gas companies, several experts interviewed by TASS said.

"The escalation of tensions in the Middle East has already led to a substantial increase in oil and precious metals prices, which has had a positive impact on shares of Russian oil and gas companies. At the same time, it is currently difficult to forecast how the conflict will develop — its duration and intensity. A relatively quick ceasefire cannot be ruled out. Prospects for shipping through the Strait of Hormuz, through which significant volumes of global oil and LNG supplies pass, also remain unclear," analyst at Finam Financial Group Igor Dodonov said.

According to him, the situation remains fairly favorable for shares of Russian oil and gas companies for now, and further gains can be expected. "However, in the absence of new developments, some investors may be tempted to lock in profits, so a certain degree of caution is warranted," he added.

According to Alexey Golovinov, chief analyst at Vector Capital, the main beneficiaries among Russian companies are Lukoil, Rosneft, and Novatek. "The first two companies should clearly feel more comfortable amid the expected narrowing of the discount on Russian oil. Novatek, in turn, may benefit from potential disruptions to LNG supplies from Qatar," he said.

At the same time, according to Freedom Finance Global analyst Vladimir Chernov, gold mining companies are benefiting from the rise in global precious metals prices. "There is also a modest rally in the global metals market, so Rusal and Norilsk Nickel can also be considered beneficiaries," Chernov added.

The United States and Israel launched a large-scale military operation against Iran on February 28. Major Iranian cities, including Tehran, were struck. The White House justified the attack by citing alleged missile and nuclear threats from Iran. At the same time, US leadership openly called on the Iranian population to rise up against their government and seize power.

As a result of the strikes, Iran’s supreme leader, Ayatollah Ali Khamenei, and several other senior figures in the leadership of the Islamic Republic were killed.

The Islamic Revolutionary Guard Corps announced a retaliatory operation, targeting sites in Israel. US military bases in Bahrain, Jordan, Qatar, Kuwait, the UAE, and Saudi Arabia were also hit.