World oil prices rise due to the risk of conflict between Iran and Israel
Kyiv • UNN
World oil prices rose by 10% due to the risk of escalation between Israel and Iran. Experts predict further growth to $85-100 per barrel in the event of an Israeli attack on Iranian oil facilities.
Amid the threat of a new conflict between Iran and Israel, oil prices have risen sharply in the world. This was reported by BILD, UNN.
Details
It is noted that today the global oil market is under constant pressure due to the risk of escalation of the conflict between Israel and Iran.
After all, Iran, which controls about 20% of the world's oil production, could be attacked by Israel at any time, which would lead to a sharp rise in oil prices.
Nevertheless, the price of oil is already rising: a barrel of Brent crude is selling for 80 euros, up 10% from the beginning of the week. In addition, U.S. West Texas Intermediate crude also rose by 10% to $75 per barrel.
Experts predict that if the conflict in the Middle East escalates, prices could rise above $85, and possibly up to $100 per barrel. This is due to fears that Israeli forces may attack Iranian oil facilities.
Rising oil prices may affect the price of gasoline. So far, oil price hikes have had little impact on fuel prices, but experts warn that the situation could change soon.
Context
Earlier, Israeli Prime Minister Benjamin Netanyahu had already promised a military response to Tehran's recent missile strikes. At the same time, U.S. President Joe Biden called for refraining from strikes on Iran's oil and nuclear infrastructure.
Recall
Gulf states have called on the United States to stop a possible Israeli strike on Iranian oil facilities. Countries in the region refuse to provide airspace for Israeli attacks on Iran, fearing an escalation of the conflict.
