Oil prices are at the highest level in five months after Trump's threat to Iran

Oil prices jumped to the highest levels in about five months, after US President Donald Trump speculated that the United States was nearby to join Israel’s attack on Iran, which kept the markets in a state of anticipation over the possibility of crude offering in the Middle East. Brent contracts jumped by $ 3.22 the August delivery to settle at $ 76.45 a barrel, and the Western Texas West Rait rose 4.3% to sit near $ 75 a barrel, which is the highest closing price since January. The prices ranged early in the session between profits and losses, amid an uncertainty that has driven the crude market fluctuage index to the highest levels in three years. Trump met with his national security team in Washington on Tuesday to discuss the escalation of conflict in the Middle East, according to people who are familiar with the issue. Before Trump met his consultants in the White House operational room, Trump, on social media, invited Iran to “unconditionally surrender” and warned against a possible blow to Iranian guide Ali Khamenei. Earlier, Trump reduced the chances of a ceasefire between Israel and Iran, saying he wanted a ‘right end’ of the conflict. The fear is increasing in the street of hormuz, but the Iranian infrastructure designated for oil exports has not been exposed to any damage, and the consequences were largely sent to marine. The market still monitors any signals about the possibility that Tehran is trying to disrupt the flow of RU through the ‘street of hormuz’, which passes about one fifth of daily world production. Razan Hilal, a market analyst at Forex.com, said the amount of high trading in options contracts indicates that “investors continue to bet on the possibility of prize trips this month, in light of the continued tension.” The clash of the two oil tankers near the waterway was a reminder of the risks that threaten energy in the region. According to the British Navy, navigation signals in the street of hormuz and the Arab Gulf have an increasing fastening tank that affects the location, at a time when some shipowners refuse to receive reservations in the area from the safety concerns. As for the fire, which was monitored in the waters near the area on Tuesday, according to a marine risk industry, it is not linked to safety reasons. However, high prices and changes in expectations are still much higher than before the start of the attacks, which led to record levels of coding by producers, and an increase in futures trading and options. Morgan Stanley raised her expectations for crude prices, and noticed the high risks due to the conflict. Israel said it controlled most of the Iranian airspace and caused serious damage to major facilities used in rocket and nuclear energy programs since the start of the attack on Friday, causing the fear of the expansion of the conflict in an area that produced about a third of the world’s oil.