ISLAMABAD: The price of crude oil in the global market has increased by 3.5% due to the increase in tensions in the Middle East. The increase in oil prices is being described as a political threat to Republicans.
According to global media, the price of US crude oil has reached $105.3 per barrel, while the price of British crude oil has reached $117 per barrel.
On the other hand, according to White House officials, US President Donald Trump had an important meeting with the heads of energy companies. The meeting discussed the global oil market in view of the possible blockade of Iranian ports. Oil production, shipping and the gas market were discussed in detail.
According to the spokesperson, the US energy strategy was considered in the event of a prolonged blockade, and measures to reduce the impact on American consumers were also discussed. US officials said that deals and diplomacy are a priority in the policy regarding Iran, but the blockade continues to pressure.
Crude Oil Price Prediction
Earlier, Iranian Parliament Speaker Mohammad Baqer Qalibaf said that due to the US blockade policy, oil has reached $120 per barrel, and the price of oil could reach $140 per barrel.
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