International desk: As tension in the Middle East increases, it has an impact on fuel oil. In one week, the price of crude oil rose by 9 percent in the global market. Last Thursday alone increased by 5 percent.

Oil

According to Reuters, the price of Brent, two brands of crude oil, rose in the past week. Crude prices rose 8 percent and West Texas Intermediate (WTI) rose 9.1 percent. Brent crude rose to $78.05 a barrel and WTI rose to $74.38. This is the first week in 2024 that crude oil prices increased by this amount.

The recent tensions between Iran and Israel, as well as the threat of Israeli attack on Iran's oil mines, are responsible for the increase in oil prices in the world market, according to officials of various analytical organizations.

Israel targets Iran's oil infrastructure, they say, but global crude oil prices will rise by $3 to $5 per barrel. Because Iran, a member of the Organization of Petroleum Exporting Countries (OPEC Plus), sends 3.2 million barrels of crude oil to the world market daily, which is 3 percent of the total oil market.

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In a statement, OPEC Plus said, if Israel really attacks Iran's oil fields, it will naturally stop the shipment of Iranian oil to the international market. In that case, even if the deficit can be met for a few days, it will not be possible for the member states in the long run.