The United States has warned a number of Persian Gulf countries about the possible resumption of intense hostilities against Iran after the November 3 midterm elections to Congress. Washington and Israel are preparing for a new round of large-scale military operations that could trigger a further rise in global oil and fuel prices. The Wall Street Journal reported this, citing informed sources, writes UNN.
Details
According to the publication, the American side conveyed the warning to its Arab allies through diplomatic and military channels. It concerns a possible short-term but extremely intensive campaign against Tehran.
The aim of the new escalation could be to weaken Iran’s military capabilities and force its leadership to return to negotiations. At the same time, no final decision to launch a new operation has yet been announced.
A new war threatens to drive oil prices even higher
Against the backdrop of reports about the possible resumption of US strikes, oil markets have already reacted with rising prices.
According to the WSJ, on Wednesday the price of Brent crude rose to $115.32 per barrel, while US WTI reached $102.78. Attacks by Yemen’s Houthis on Saudi Arabia’s energy infrastructure are creating additional tensions.
Further expansion of hostilities in the Middle East could increase risks to global supplies of oil and petroleum products, potentially affecting the cost of gasoline and diesel fuel in Ukraine as well.
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