Rising crude oil prices due to US Attack on Iran..!?
The US airstrike on Iran's nuclear facilities has caused great tension in the Middle East. This has also created fears that crude oil prices may increase further. There has been a conflict between israel and iran for the past week. The US is now also jumping into this conflict. The US military has carried out airstrikes on three nuclear power plants belonging to Iran. This will only lead to a rise in crude oil prices. The conflict that has been going on for the past week has already caused the price of crude oil to rise to $79 per barrel. Brent crude futures rose by 18 percent.
Impact on India: Experts warn that if there is any problem in the Strait of Hormuz, the price of crude oil will rise to $120 a barrel. Rising crude prices are very dangerous for countries like India. Because india imports and uses crude oil from abroad for its gasoline and diesel. When the price of crude oil rises internationally, the price of gasoline and diesel in india will rise. This will lead to an increase in the price of goods. It will also affect the country's economy.
Big risk: Earlier, international banks and research institutions including JP Morgan and Citibank had warned in a report that if the Strait of Hormuz is closed or shipping in that area is blocked, the price of crude oil could rise from $120 to $130 per person. They also said that if this war on iran continues for a long time, the price of crude oil will increase many times over on a global scale.
Gold price will rise: This war tension will make investors move towards gold, which will cause the price of gold to rise. There is no doubt that this impact will resonate very strongly in the stock markets on Monday.
Impact on India: Experts warn that if there is any problem in the Strait of Hormuz, the price of crude oil will rise to $120 a barrel. Rising crude prices are very dangerous for countries like India. Because india imports and uses crude oil from abroad for its gasoline and diesel. When the price of crude oil rises internationally, the price of gasoline and diesel in india will rise. This will lead to an increase in the price of goods. It will also affect the country's economy.
Big risk: Earlier, international banks and research institutions including JP Morgan and Citibank had warned in a report that if the Strait of Hormuz is closed or shipping in that area is blocked, the price of crude oil could rise from $120 to $130 per person. They also said that if this war on iran continues for a long time, the price of crude oil will increase many times over on a global scale.
Gold price will rise: This war tension will make investors move towards gold, which will cause the price of gold to rise. There is no doubt that this impact will resonate very strongly in the stock markets on Monday.