Oil prices jump due to geopolitical tension between Iran and America

Oil prices reported after a Reuters that the US embassy in Iraq had prepared to vacate due to the increase in security risks. The price of “Brent” Raw, August delivery, rose 4.3% to settle at $ 69.77, and the crude contracts “Western Texas” rose 4.9% to close more than $ 68 a barrel, with the biggest daily profits since October. The increase comes along with the reduction of the Donald Trump administration, the number of employees of its embassy in Iraq, and the allowance for the military’s families to leave the area in response to the ongoing safety issues. The British Navy also issued a rare warning to the sailors that the increase in tension in the Middle East could affect the movement of cargo. These developments have exacerbated speculation about the possibility of disruptions in the region in the region, after the ‘French Press Agency’ reported that Iran threatened to target US military bases in the event of conflict. “The Iranian discourse has become significantly more hostile, and these threats are supported by concrete developments on the ground,” says Rebecca Babin, senior energy traders at the CIBC Private Wellth. She added: “Although the geopolitical turnout waves are usually an opportunity to buy, this situation is hampered by the possibility of an Israeli military move as negotiations collapse, making traders more careful to sell during the current wave of emergence.” US President Donald Trump told the New York Post that he was increasing the tension with Iran. It has also been published on social media that a commercial agreement with China has become ‘reached’, but it is still dependent on the approval of Chinese President Xi Jinping. Earlier, it was under pressure that oil prices were put under pressure due to the expectation that the trade war between the two largest economies in the world could harm the demand, in addition to any agreement with Iran that could restore the vessels subject to sanctions to the market, which exacerbates the increase in supplies of the “OPEC+” alliance. However, prices were a recovery in the last sessions, supported by the decline in commercial tension and expectations to improve demand during the summer. A monthly report issued by the US Energy Information Administration is an understanding of the market on the market. Although the agency expects the supply to exceed the demand this year with a difference of 800 thousand barrels a day, which is the highest level since the agency has begun to publish expectations for the year 2025, it does not expect US CRD production to exceed last month’s levels before the end of next year, indicating that low prices will impede some stocks. Indicators also seem to tighten the market along the term curve. Earlier this week, the prize gap moved to West Texas between February and March, after the first time since April. The gap also increased for decades a few months later during the day, indicating that the fear of the exhibition began to decline.