Crude Oil Price: Boil in the price of crude oil strongly, climbed 7% in a day, know the reason
The price of crude oil (crude oil) saw a strong rise on Friday. The price of a barrel of benchmark American crude oil rose 7.1% to $ 72.88. International standard Brent crude increased by 7.2% and increased to $ 74.32 per barrel. According to PTI news, the concern is that the Israeli attack on Iran’s atomic and military bases may make the global economy as well as the flow of crude oil worldwide worse.
… then the price can remain high
According to the news, Iran is one of the world’s leading oil producers, although sanctions by Western countries have limited its sales. According to the head of Near-Term Oil in Richard Joswik, S&P Global Commodity Insights, if a wider war sprays, it can slow down the flow of Iran’s oil to its customers and keep the price of crude oil and gasoline high for all worldwide. But in the previous attacks between Iran and Israel, the oil prices were initially seen in the beginning, but later declined, when it became clear that the situation was not increasing and the oil supply had no effect. ,
The price of oil came at the level of the beginning of this year
At the moment, the price of oil has risen, but has returned only to the same level where it was earlier this year. Bryan Jacobson, the chief economist of the Annex Wealth Management, said that this is a economic shock that no one really needs, but it looks like jerking emotions compared to the basic principles of the economy. Meanwhile, American shares are falling and giving back some of the recent big benefits, which brought them to the brink of their records.
Companies have suffered losses
Companies that use too much fuel for their business and who need enough confidence to travel to their customers have suffered too much. United Airlines lost 5.2%, Delta Air Lines lost 4.5% and Norwegian cruise line holdings lost 2.9%. Adobe declined by 5.7%. The price of gold rose due to investors to investigate their cash. An ounce gold increased by 1. 8% and it is $ 3,463. Reached 70.
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