Politico: Palestinian-Israeli conflict could lead to higher fuel prices
Economy
Some energy analysts believe that US President Joe Biden may tighten sanctions on Hamas-backed Iran after "global oil prices could exceed the symbolic $100 a barrel mark."
The conflict between Tel Aviv and Palestinian Hamas could strengthen US sanctions on pro-Palestinian Iran, jeopardise prospects for normalising relations between Saudi Arabia and Israel, and "widen conflict in the Middle East". According to Politico, each of these consequences, in turn, could cause fuel prices to skyrocket.
According to Andy Lipow, head of energy consulting firm Lipow Oil Associates, the price hikes could be caused "not so much because the conflict is affecting oil supplies at the moment, but because of concerns that other players may be involved."
Some energy sector analysts believe that US President Joe Biden may tighten sanctions on Iran. According to experts, "global oil prices may exceed the symbolic mark of $100 per barrel".
According to Andy Lipow, head of energy consulting firm Lipow Oil Associates, the price hikes could be caused "not so much because the conflict is affecting oil supplies at the moment, but because of concerns that other players may be involved."
Some energy sector analysts believe that US President Joe Biden may tighten sanctions on Iran. According to experts, "global oil prices may exceed the symbolic mark of $100 per barrel".
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