Oil Prices Likely to Rise Sharply Due to Middle East Conflict Impact

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#GlobalNews_OilPrices#IranIsraelConflict#MiddleEast_EnergyCrisis#CrudeOil_Surge#OilMarket_Volatility#FuelPriceImpact#BrentCrude#StraitOfHormuzRisk#OilRate_Rise#InternationalMarkets#OdishaTV#OTV

The ongoing Middle East conflict between the United States, Israel and Iran is having a major impact on global energy markets, pushing crude oil prices higher amid fears of supply disruption. The joint military action and Iran’s retaliation threaten key oil export routes, especially the Strait of Hormuz, through which about 20 % of the world’s crude supply flows, increasing volatility in international markets. Analysts now say Brent crude oil could rise toward $80 per barrel or higher, with some scenarios suggesting prices might even test $100 a barrel if supply disruptions worsen. The surge in oil rates can affect fuel prices worldwide, including petrol and diesel, and may have broader effects on inflation, transportation costs and economic stability.

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