Due to conflicts in the Middle East, oil prices rise sharply

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Oil prices They rose sharply this Friday after the US attacks in Syria on targets linked to Iranwhich raise fears of an escalation of tensions in the Middle East that could affect the supply of crude oil.

The barrel of North Sea Brent for delivery in December gained 2.90 percent, costing $90.48 a barrel.

We recommend: Due to conflicts in the Middle East, oil prices have risen sharply.

Meanwhile, West Texas Intermediate (WTI) for equal delivery gained 2.80 percent and a barrel stood at $85.54.

"Oil is the main gauge of geopolitical risk, since prices increase when the war premium rises," summarized Edward Moya, analyst at Oanda.

In any case, Moya relativized the impact of the situation on the market, since "There were few disruptions to crude oil supply."

However, crude oil prices also jumped on Thursday following US airstrikes on Iranian facilities in Syria.

For Andy Lipow of Lipow Oil Associates, "before the weekend, investors feared a ground invasion of Gaza and a potential extension of the conflict," and that drove up prices.

He The US military indicated that it attacked two facilities in eastern Syria on Thursday used as an arsenal by the Islamic Revolutionary Guard Corps of Iran (IRGC) and affiliated groups.

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"The self-defense precision strikes are a response to a series of ongoing and mostly unsuccessful attacks on U.S. personnel in Iraq and Syria by Iranian-backed militia groups that began on October 17," Secretary of Defense, Lloyd Austin, in a statement this Friday.

The attention of the oil market "is particularly focused on Iran, which could decide to intervene in the conflict" between Israel and Hamas, explained Barbara Lambrecht, an analyst at Commerzbank.

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With information from AFP.


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