Oil Up 10% Due To New War In The Middle East
10- 2.03.2026, 6:21
- 7,188
Brent hit its highest since July last year.
The price of Brent crude rose to around $80 a barrel in the over-the-counter market on Sunday, Reuters wrote, citing traders. Analysts predict an even bigger jump.
As the publication writes, analysts expect a 10% increase is not the limit. And toga March 2 may end with a price of $ 100 per barrel. The reason is the U.S. and Israeli strikes on Iran, which plunged the Middle East into a new war.
Reuters recalls that a barrel of Brent last Friday, February 27, reached the level of 73 dollars. This is the highest price since July last year.
Iran plays a key role in the global oil market. According to OPEC, it is the world's third largest country in terms of proven oil reserves. Also, Iran controls an important shipping route for crude oil is the Strait of Hormuz. In addition it exports oil to countries in dire need of the commodity. For example, to China.
In the meantime, US President Donald Trump said that he is not worried about rising oil prices. Fox News journalist Jacqueline Heinrich told this on social network X.
- Nothing bothers me, Jacqueline. I'm just doing what's right. It works out in the end," Trump said when asked about oil prices.
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