Oil prices on Sunday exceeded $100 per barrel, crossing this mark for the first time since Russia's invasion of Ukraine in 2022. This was reported by CNN, informs UNN.
Details
It is noted that investors are concerned that the war in Iran will lead to prolonged restrictions on global oil supplies: oil and gasoline prices have risen sharply as the war with Iran has spread to other Middle Eastern countries, including attacks on neighboring refineries in the oil-rich region.
US oil futures rose 18% to about $108 a barrel, the highest level since July 19, 2022. Brent futures, the global benchmark, rose 16% to almost $108 a barrel
It is indicated that the rise in oil prices in recent days has strongly affected stocks, as traders fear that a prolonged rise in fuel prices could lead to another surge in inflation and harm the economy.
"A sustained rise in oil and gas prices could exacerbate America's affordability problems, putting President Donald Trump and Republicans in an unstable political position ahead of this year's midterm elections," the publication concludes.
Recall
According to the Financial Times, the blocking of the Strait of Hormuz and overflowing tanks caused a shortage of raw materials. Analysts predict a historic rise in oil and fuel prices.
Global oil and gas prices hit multi-year records due to war with Iran07.03.26, 07:24 • [views_14811]