US-Iran War Sends Crude Oil Prices Soaring, Raising Global Tensions

The situation in the Middle East does not seem to be improving. The Strait of Hormuz is closed due to the US-Iran war and the blockade of the sea route for Saudi influence by the Houthi rebels has raised concerns about exports through the Red Sea. The impact of all this is directly seen on the price of crude oil, which is now running at a high speed and has now crossed $95 per barrel. This ongoing surge in oil prices has already raised global tensions to a high, so there is a big warning about it from abroad, which is frightening. In fact, Goldman Sachs warns that the price of crude oil may go beyond $120. The global oil markets are in turmoil this month due to the renewed conflict between the US and Iran, until the news is written on Wednesday. Crude oil prices in the international market have risen sharply and the Bloomberg report on the price of crude oil per barrel says that if such a cargo is carried, the Goldman Sachs report says.