Oil prices rise due to war, global economy under pressure

Tensions have increased in the Middle East after the recent US-Israeli attacks on Iran. According to analysts, if the conflict lasts long, it could have a major impact on global energy supplies, trade and stock markets.

Stock markets around the world have fallen immediately after the attack. Major indices in Asia, Europe and the United States have fallen. Investors fear that economic uncertainty will deepen if the conflict escalates.

The biggest impact has been on the oil market. About one-fifth of the world’s oil is transported through the Strait of Hormuz. Iran’s threat to close the route has increased market concerns. As a result, the price of Brent crude oil has risen to above $82 per barrel, the highest in the last few months. Analysts believe that oil prices could exceed $100 per barrel if supply is disrupted.

The US-based research organization Council on Foreign Relations has warned that if the conflict in the Middle East escalates, there will be a major shock to energy supplies. This will increase inflation and the global economy may be at risk of recession. Countries that depend on energy imports will be particularly affected.

According to economic analysts, if the conflict is limited, the impact may be temporary. However, if the pipeline is closed for a long time or if the infrastructure is damaged, a global recession may occur. If the price of oil reaches $ 120 per barrel, the world economy, including the United States, will take a major hit.