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Rising tensions in the Middle East, particularly between Israel and Iran are anticipated to push global crude oil prices higher, potentially impacting the Oil Fuel Fund Office’s (OFFO) debt repayment strategy, according to a spokesperson from the Energy Ministry.
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Rising tensions in the Middle East, particularly between Israel and Iran are anticipated to push global crude oil prices higher, potentially impacting the Oil Fuel Fund Office’s (OFFO) debt repayment strategy, according to a spokesperson from the Energy Ministry.
Uncertainty surrounds whether the United States will back potential Israeli strikes on Iran’s oil infrastructure, raising concerns about oil price volatility, as reported by media outlets.
Tehran launched at least 180 missiles at Israel in response to Israeli assaults on Gaza and Lebanon, as well as the deaths of leaders from Hamas and Hezbollah.
An anonymous official stated that continued Israeli retaliatory actions would almost certainly cause a spike in global crude oil prices.
Crude oil future prices surged following US President Joe Biden’s announcement that Washington would discuss the…