The highest since last August.. Trump’s threats to Iran raise the price of oil by 5%
Oil prices rose more than 5% today, Thursday, and reached levels not seen since last August, driven by threats Trump with American intervention in Iran may hamper the country’s production and global crude supplies.
Jorge Leon of the Foundation said "Rystad Energy" Energy Inn "The speed of reaction of Oil indicates that markets view US military action against Iran as a real and imminent danger"and that "Possibility of direct intervention" Increasing.
On Wednesday, the American President put pressure on Tehran to conclude an agreement regarding its nuclear program, stressing that "Time is running out" Before an American attack, after he suggested in recent weeks the possibility of intervention against the backdrop of the violent suppression of protests in the Islamic Republic.
And after statements by Iranian Foreign Minister Abbas Araqchi that the armed forces are putting "Her finger is on the trigger"Army Commander Amir Hatami announced that combat units would be supplied with a thousand drones.
Iran is not only among the 10 largest oil producers in the world, but also oversees the Strait of Hormuz, through which about 20% of global crude production passes. A barrel of Brent North Sea for March delivery rose around 15:20 GMT by 3.41% to $70.73.
In parallel, after recording its highest level in about 6 months at $66.48, the price of a barrel of West Texas Intermediate for delivery in the same month rose around 15.20 GMT by 3.43% to $65.36.
In addition to the risks associated with Iran, prices are also rising due to… "Unrest in Kazakhstan" In the Tengiz field, it led to "Withdrawing a large number of barrels from the market"as well as temporary disruptions in US oil production due to "Cold weather in the United States".
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