Media: the conflict in the Middle East may provoke an increase in world oil prices
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The conflict between the Palestinian group Hamas and Israel has prompted calls for tougher US sanctions against Iran and threatens to derail efforts to normalize relations between Israel and Saudi Arabia. Any of these factors could lead to a sharp increase in already high oil prices, reports Politico.
Prices are likely to rise “not so much because the conflict is affecting oil supplies at the moment, but because of fears that the conflict could attract other players, such as Iran, which supports Hamas,” says the head of the consulting firm. of Lipow Oil Associates by Andy Lipow.
Politico cites energy industry analysts who expect US President Joe Biden to tighten sanctions. This action could lead to world oil prices exceeding the symbolic mark of $100 per barrel.
On October 9, amid the Hamas attack on Israel, the price of Brent oil exceeded $87 per barrel.
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