Oil prices continue to rise: Due to conflicts in the Middle East

The price of energy resources on the global market continues to rise. This was reported by Zamin.uz.

Specifically, the price of Brent crude oil has exceeded $87 per barrel. This is the highest level observed since July 2024.

According to data from the London Stock Exchange, oil prices have increased by approximately 18 percent since the beginning of the week. The rapid price increase is caused by military conflicts in the Middle East.

Strikes by the US and Israel on Iranian territory, as well as Tehran's attacks on regional facilities, have further complicated the situation. In particular, Iran's control over the Strait of Hormuz, which is of significant importance in global oil trade, has heightened concerns.

Analysts believe that if the situation in the maritime route does not stabilize, oil prices could exceed $100. Nevertheless, Goldman Sachs forecasts an average price of around $76 for the second quarter.

Against the backdrop of regional instability, the price of Russia's Urals crude oil has also risen, surpassing $49. Experts warn that if military actions in the Middle East continue, prices in the global energy market may fluctuate.

For now, investors are closely monitoring the development of the situation.