By Admin 
Iran israel tension: The tension between Israel and Iran is continuously increasing. Its important establishments were attacked by Israel to prevent Iran from becoming nuclear power. After this, Iran was reversed. In such a situation, now the direct effect of tension in the Middle East is seen falling on the price of crude oil. Market experts say that if this tension continues, the price of crude oil can cross $ 150 per barrel.
Significantly, as soon as the Israeli missile fell on Iran, its price increased by about 7 to eight percent on Friday. The price of Brent crude oil came at $ 78.5 per barrel. However, after that it came around $ 75.
The major oil producing countries are countries like the United Arab Emirates, Saudi Arabia and Qatar. In such a situation, if the tension between Iran and Israel does not stop, then the path that supplies refined products or LNG can stop the oil supply after the Straight of Hormuz’s closure.
India greatly imports a large number of oil from these countries. In such a situation, if the supply of oil stops from these countries, then a big crisis can arise. On the one hand, where oil prices in the country will increase, inflation will increase, on the other hand, India will have to find it as an alternative.
Even before this, when Russia attacked Ukraine, after that there was a huge increase in the price of crude oil. The price of Brett crude oil came up to $ 139 per barrel due to the daily supply of about 1.5 million barrels of oil from Russia.
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