Fears that the war will continue: Oil prices rise again

At the beginning of the week, the price of Brent crude initially fell sharply by 11 percent following US President Donald Trump's five-day delay of a threatened intervention against Iran's energy infrastructure and claims that negotiations were being held with Tehran, but it later recovered to reach 104 dollars per barrel.

Although the Iranian side completely denied the negotiation claims, Israel continued its attacks. US crude oil, West Texas Intermediate (WTI), showed an increase of approximately 4 percent with these developments.

According to information obtained from industry sources, US allies in the Persian Gulf are also taking steps toward becoming involved in the crisis. It is stated that Saudi Crown Prince Mohammed bin Salman is close to supporting new military moves to ensure deterrence.

XS.com market analyst Linh Tran stated, "The involvement of Gulf countries in the conflict would be considered a serious escalation, and this situation could lead to a reshaping of short-term pricing in the oil market."

News Source: 12punto