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Oil Prices Soar 40% in 15 Days as US-Israel-Iran Conflict Escalates

Crude oil prices have skyrocketed from $73 to $103 per barrel, a 41% increase, since the US-Israel-Iran conflict began on February 28. The conflict, which included strikes that killed Iran's Supreme Leader, has critically disrupted energy shipments through the vital Strait of Hormuz. Market experts warn of continued high volatility as investors monitor geopolitical developments for signs of escalation or de-escalation. Any prolonged blockage of the Strait could severely tighten global oil supplies and fuel inflation, particularly in Asia.

Key Points: Crude Oil Surges 40% Amid Middle East Conflict

  • 40% price surge in 15 days
  • Strait of Hormuz supply disruption
  • Conflict began Feb 28 with US-Israel strikes
  • Markets to remain highly volatile
  • Global inflation risks increase
2 min read

Crude oil prices surge over 40% in 15 days since US-Israel-Iran conflict began

Global crude oil prices jump over 40% to $103/barrel as US-Israel-Iran war disrupts Strait of Hormuz supply routes, impacting Asian markets.

"The week ahead is expected to remain highly volatile, with market direction largely influenced by developments surrounding the ongoing conflict. - Ponmudi R"

New Delhi, March 14

Crude oil prices in the international market have surged by more than 40 per cent in just 15 days amid the ongoing war involving the United States, Israel and Iran, which has disrupted the energy supply route through the Strait of Hormuz and affected global energy markets, particularly in Asia.

Before the beginning of the war, crude oil prices in international markets on February 27 were trading at around USD 73 per barrel. However, by Saturday, prices had surged sharply to around USD 103 per barrel.

The rise from USD 73 to USD 103 per barrel represents an absolute increase of USD 30 and a percentage increase of approximately 41.1 per cent in a short span of time.

The recent intense military conflict between the U.S. and Iran began on February 28, when U.S. and Israeli forces launched wide-ranging, direct attacks on Iranian military assets and leadership. Iran's Supreme Leader Ayatollah Ali Khamenei.was also killed in the US-Israel led strikes.

The sharp jump in prices reflects growing concerns about global energy supply disruptions as the conflict escalates in the Middle East, with the Strait of Hormuz playing a crucial role in global oil transportation.

Market experts say that developments related to the conflict will continue to influence global markets in the coming days.

Ponmudi R, CEO of Enrich Money, said the coming week is expected to remain highly volatile as investors closely track geopolitical developments.

"The week ahead is expected to remain highly volatile, with market direction largely influenced by developments surrounding the ongoing conflict in the Middle East. Investors will closely track statements from key government officials and global stakeholders involved in the situation for any signals of escalation or potential diplomatic de-escalation," Ponmudi said.

He added that such developments will play a crucial role in determining crude oil price trends, global bond yields and currency market volatility.

According to him, particular focus will remain on the Strait of Hormuz, which is considered one of the world's most critical energy chokepoints.

Any prolonged disruption to shipping through the Strait of Hormuz could tighten global oil supplies, influence inflation expectations across Asia and keep overall market risk sentiment fragile.

- ANI

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Reader Comments

P
Priya S
Very worrying news. Our economy is so dependent on imported oil. I hope our diplomatic channels are working overtime to ensure energy security. This is a stark reminder of why we need to accelerate our shift to renewable energy sources. 🇮🇳
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Aman W
The Strait of Hormuz is the lifeline for oil to Asia. Any disruption there is a direct hit to countries like India and China. The timing is terrible. Let's hope for a quick de-escalation, otherwise inflation is going to skyrocket.
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Sarah B
While the geopolitical analysis is important, the article could have included more on what this means for the average Indian household budget. A little more focus on the domestic impact would be helpful for readers.
V
Vikram M
From 73 to 103 dollars in 15 days! This is insane volatility. My small business runs on logistics, and fuel is our biggest cost. This kind of spike can wipe out margins completely. Feeling very anxious about the coming weeks.
K
Karthik V
Global conflicts, we pay the price. It's always like this. Time to seriously invest in public transport and electric vehicles. We cannot keep being at the mercy of such international events for our basic energy needs.

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