Due to the war in the Middle East: oil prices exceed $100
9 March 07:15
The escalation of the conflict in the Middle East has caused sharp fluctuations in global markets. Against the backdrop of hostilities in Iran, oil prices have exceeded $100 per barrel for the first time since Russia’s full-scale invasion of Ukraine in 2022.
This was reported by "Komersant Ukrainian" , citing a CNN publication .
Sharp rise in oil prices
Investors fear that the military conflict could lead to prolonged restrictions on oil supplies from the Middle East.
Against this backdrop, US oil futures rose 14.7%.
Futures for Brent, which is considered the global benchmark for oil prices, rose 12.63% to $104 per barrel as of 6:06 p.m. Eastern Time.
Stock market decline
Along with the rise in oil prices, pressure on stock markets intensified. Dow futures fell 851.6 points, or about 2%.
Futures on the S&P 500 and Nasdaq technology indices also showed declines of 1.73% and 1.65%, respectively.
Investors fear that turmoil in the energy market could increase inflationary pressure in the US.
Rising gasoline prices in the US
The situation on the oil market has already affected fuel prices. According to the American Automobile Association, after the first strikes on Iran on February 28, the average price of gasoline in the US reached $3.45 per gallon on Sunday.
This is about 16% more than a week earlier.
Reaction of the US administration
The administration of US President Donald Trump tried to calm the market.
On Sunday, officials said that the military operation against Iran, carried out by the US and Israel, should not lead to long-term fuel supply problems.
