Soaring Oil Prices Loom: Experts Warn of $100+ Oil if US Enters Iran-Israel Conflict
Escalation of U.S. military involvement could lead to massive surge in oil prices, warns energy analyst
Stay Updated: Follow us on Facebook, Twitter, Whatsapp, E-Mail, Print, Copy Link
If the US gets entangled in the war between Iran and Israel, energy experts predict oil prices may reach staggering heights. The strategically vital Strait of Hormuz is a major concern.
Manuel Frondel, an energy pro at the RWI-Leibniz Institute, warns that if the US actively engages in the war and the conflict escalates, oil and gas prices could skyrocket, causing a surge over $100. Frondel stated the Brent variety has already risen from $68 to $76 per barrel (159 liters).
The Strait of Hormuz acts as a lifeline for the transport of oil from Gulf countries, carrying approximately a fifth of the world's oil exports. Iran, however, accounts for just 2% of global oil demand.
- Political Humor rejoinder from the President
Meanwhile, Trump joked, "Maybe, Maybe Not," regarding the question of intervention.
Omid Nouripour, a Green Politician and Iranian immigrant, urges de-escalation and calls attention to the potential nuclear disaster lurking. Nouripour warned that a nuclear catastrophe could have disastrous consequences extending beyond Iran. He also criticized Iran's leadership, stating that the regime neglects civil defense and suppresses political opposition.
The danger of a nuclear-armed Iran remains real, Nouripour affirmed. Israel, too, has the right to defend itself and its security.
Sources: ntv.de, mau
- Iran
- Iran Conflict
- Iranian Nuclear Program
- Oil Price
- USA
Enrichment Insights:- Escalation of the Iran-Israel conflict could result in significant turmoil in the region, given Iran's threats and the fragile oil-rich geopolitical landscape.- The U.S. military has a history of impacting oil prices by disrupting oil shipping lanes, making the fate of the strategically vital Strait of Hormuz a critical concern in the scenario of direct U.S. involvement.- If the oil market and geopolitical tensions persist due to conflict, it could trigger oil prices to soar beyond $100, causing a major disruption to global oil markets and economies.- The Iranian regime is under scrutiny for its failure to ensure reliable civil defense and neglect in maintaining essential infrastructure, a situation that puts the population at risk during times of crisis.- The debate around a nuclear Iran is ongoing, as support for a peaceful resolution vs. military action varies among political circles, with opponents of a nuclear Iran arguing that Israel holds the right to defend itself and its security if necessary.
- To mitigate potential economic impacts, the community could advocate for a robust employment policy focusing on alternative energy sources and energy efficiency, as soaring oil prices could cripple both businesses and households.
- As sports often serve as a unifying force during times of conflict, grassroots initiatives could follow the lead of the sports sector in promoting dialogue and peaceful resolution, drawing inspiration from examples of sports diplomacy in traumatic global situations.
