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A raging war and “calm” oil prices...the only condition that will cause oil prices to soar globally
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Baghdad today - Baghdad
Engineer and consultant in oil affairs, Haider Al-Battat, confirmed today, Saturday (February 3, 2024), that oil prices will rise in light of the crisis and political conflict in the region.
Al-Battat said in an interview with “Baghdad Today” that “any political conflict and crises between one country and another affect the economic situation, and therefore the current American-Iranian conflict will ignite oil prices.”
He added, "The current conflict is in Iraq, Syria, and Yemen, but if it develops and reaches the entire Gulf and the Strait of Hormuz stops, prices will exceed record levels and reach the highest level."
For decades, warnings have been issued from time to time about the expansion of the conflict between the United States of America and Iran in the Middle East, where both parties are trying to extend their influence in several ways.
All possibilities indicate that the worsening of the crisis will create a “global economic distress” if oil exports in the Gulf region are paralyzed.
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