Oil prices receive a new batch with the escalation of Middle East tensions

Oil prices received a new boost after US President Donald Trump said that the United States will hold Iran’s member of OPEC responsible for any future attack by the Houthis in Yemen, indicating that they launched a huge number of missile attacks on commercial shipping routes in the Red Sea and Israel, according to the American CNBC.

Oil prices today

American crude oil futures increased by 40 cents or 0.6% to close at $ 67.58 a barrel.
Brent crude crude contracts rose 49 cents, or 0.69%, to close at $ 71.07 a barrel.
Also read: The increase in oil prices when the settlement is driven by the hopes of increasing demand

Trump threatens Iran

Trump said in a post on the “Truth Social” social networking platform: “From now on, every shot will be seen by the Houthis as a shot launched by Iran’s weapons and leadership.”
He added, “Iran will take responsibility, and will bear the consequences, and these consequences will be severe!”
Trump’s threat comes after the United States launched a new wave of raids against the Houthis.
US Defense Minister Beit Higseth said that the American campaign will continue until the armed group stopped its attacks.
“This campaign aims to freedom of navigation and restore deterrence,” Higseth told Fox News.
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Trump re -imposed the “maximum pressure” campaign on Iran with the aim of reducing its oil exports. Treasury Secretary Scott Besent recently stated that the Trump administration’s goal is to collapse the Iranian economy.

Oil prices expectations

Goldman Sachs expected analysts that crude oil prices will continue at the levels of seventy.
The analysts said: “While the sale of $ 10 per barrel since mid -January is greater than the change in our basic state, we expect the price of Brent crude to reach in December 2025 $ 71,” adding that “the medium -term risks of our expectations remain in the decline due to the possibility of escalating customs tariffs and increasing OPEC Yels production for a longer period.”
In fact, Russian Deputy Prime Minister Alexander Novak said earlier this month that the decision to increase supplies may be canceled in May if prices decrease.
OPEC Plus said it will add about 138 thousand barrels per day to its collective supplies next month as part of a long -awaited reduction in production of 2022, which is likely to be temporary due to the sensitivity of oil prices towards any move by OPEC Plus.

Drivers wars

Regarding American growth, Goldman Sachs analysts believe that this growth will be negatively affected by the customs tariff wars launched by President Trump on his commercial partners.
Many analysts believe that customs definitions are harmful to economic growth because they raise the cost of basic commodities on the final consumer.
As crude oil is the most traded in the world, the demand will inevitably be affected by the exchange of customs tariffs.