After Donald Trump’s recent statement, the increasing tension between America and Iran has created concern in the global markets, whose direct impact is being seen on oil prices. On April 2, Trump indicated that the conflict with Iran could continue for 2-3 weeks and that the US could even attack Iran’s power plants if necessary. After this statement, there was a rise in the global oil market, where Brent crude crossed $105 and WTI crude oil reached above $103 per barrel. Due to increasing tensions in the Middle East, fear about oil supply has increased, which is causing panic in the market and this jump in prices is being considered a sign of a major economic shock to come.
