According to a recent report, global crude oil prices have risen again, with US West Texas Intermediate (WTI) reaching around $97 per barrel, while Brent crude is also selling around $96.86 per barrel.
Economic experts say that global political tension, the situation in the Middle East and concerns about energy supply have created anxiety in the market, which is causing oil prices to rise again.
Investors are expressing concerns that supplies in the Middle East will not be fully restored, especially as instability persists in key routes like the Strait of Hormuz, which has played an important role in keeping prices strong.
According to economic analysts, OGRA and supply chain concerns are also changing the market trend, due to which investors are paying a risk premium.
Meanwhile, US President Donald Trump’s recent statements have also created instability in the market. President Trump has said that the US will maintain its military position in the Middle East and will be ready until a complete and genuine ceasefire agreement is reached. He has warned that if the situation worsens further, the US will not hesitate to respond strongly.
Trump added that Iran will not be allowed to obtain nuclear power and the important maritime passage of the Strait of Hormuz will be protected at all costs so that global trade is not affected.
Economic experts say that if tensions in the Middle East continue, oil prices could rise further, which could have significant effects on the global economy, energy prices and importing countries.
Global analyses have also revealed that despite the ceasefire, oil supplies have not been fully restored, which is why uncertainty persists in the market.
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