ISLAMABAD: Crude oil prices have once again increased in the global market, which has created an atmosphere of anxiety in the global energy market.
According to the latest report, the price of US crude oil has increased by 3%, after which it has reached $ 97 per barrel.
On the other hand, the price of British crude oil has also increased by 2.2% and is being sold at $ 96.86 per barrel.
According to economists, this increase in oil prices has come about due to global political tensions and the situation in the Middle East.
In this context, US President Donald Trump’s recent statement has also affected the market. He said that US forces will maintain their position around Iran and will be ready until a full and genuine agreement is implemented. Trump warned that if the situation worsens further, the US will not hesitate to respond strongly.
The US President also made it clear that Iran will not be allowed to acquire nuclear weapons, while the important Strait of Hormuz shipping route will be kept safe and open at all costs so that global trade is not affected.
Economists say that if tensions in the region continue, oil prices could rise further, which will have a significant impact on the global economy, especially importing countries.
