Military conflicts sharply increased oil prices

Last week, the price of crude oil on the global market rose significantly. This was reported by Zamin.uz.

This was caused by the military strikes carried out by the United States and Israel against Iran on February 28. As a result of these military operations, the price of energy resources increased by 27 to 36 percent within a week.

By the end of the week, the price of one barrel of oil exceeded 90 dollars. Experts emphasize that the price increase was due to logistical problems in the Strait of Hormuz.

The halt of daily oil shipments of 15 million barrels from this region dealt a serious blow to the global supply chain. This situation brought the issue of energy security back onto the agenda of the world economy.

Currently, market participants and analysts are monitoring how prices will change in the coming days. If military tensions in the region continue, there is a possibility of further increases in oil prices.

This could lead to higher transportation and production costs.