The ever-increasing tension in Central Asia is now affecting the oil market as well.
After the rapid attacks between Israel and Hezbollah on Sunday, the price of crude oil has increased. Due to the increasing tension, there is a fear of disruption in oil supply.
At the same time, the decision to cut interest rates in America has also increased the demand for oil. Both these factors are affecting the prices of crude oil.
At the same time, there seems to be no solution to the ceasefire talks between Hamas and Israel in Qatar. However, the countries mediating have not yet laid down their arms and say that this effort will definitely bear fruit one day.
chaos in the market
The impact of the tension between Israel and Hezbollah reaching its peak and the continuous attacks is also visible on the market. Amid the fear of war, the prices of crude oil increased on Monday.
At the same time, the Federal Reserve has also indicated a cut in interest rates. The price of Brent crude oil increased by 37 cents. It has reached $ 79.37 per barrel.
At the same time, American crude futures have also increased by 36 cents. Let us tell you that this is being described as the biggest attack after the tension between Israel and Hezbollah for the last 10 months. Israel has also admitted that its infrastructure has been damaged by this attack.
The rift between Iran and America will increase
Lebanon’s radical Iran-backed organization Hezbollah launched a series of attacks to avenge the death of its commander. Israel scrambled 100 jets to avoid them and also retaliated.
America has also decided to open a front against Israel and Hezbollah over this attack. In such a situation, there are signs of further increase in tension between Iran and America.
There was an increase in demand for oil after the US Federal Reserve announced interest rate cut.
Addressing a press conference in Canada, US NSA Jake Sullivan said that America is still trying to reach a ceasefire agreement in Cairo.
Let us tell you that America, Egypt and Qatar are mediating for ceasefire. However, no agreement has been expressed by both the sides till now.
The mediating countries also put forward several options to Israel, including the option of the Philadelphi Corridor, which could be opened through the Gaza Strip to Egypt. However, both parties refused to accept these options.
Israel says that Hamas should first release all the hostages. Hamas says that it will accept any demand only after Israel leaves the Gaza Strip.
Representatives from Egypt and Qatar met with Hamas leaders to discuss the proposals. Israeli officials also took part in the discussions on Sunday.
In the month of July, Hamas had accepted the US proposal. It had asked for the release of soldiers and other hostages in 16 days. However, after the assassination of the Hamas chief in Tehran, all the agreements were put on hold once again.
Let us tell you that Hezbollah’s senior commander Fuad Shukr was killed in the Israeli attack. To take revenge for this, Hezbollah attacked Israel.
The Israeli Prime Minister says this is not the end of the story. Meanwhile, Hezbollah said it had fired 320 Katyusha rockets towards Israel, targeting military targets.
Hezbollah says that it was delayed in attacking amid talks of ceasefire in Gaza. Israel, on the other hand, has called Hezbollah’s statement baseless.
The post Israel-Hezbollah ‘war’ causes panic across the world, oil prices started rising rapidly… appeared first on .