Oil prices are going up due to Middle East conflicts

[Oluwa-btc]

So we are talking about national pride when people are suffering and even dying because of this blockage? At least the ceasefire has been extended extended and we are hoping that both parties will find common ground to end this war that is causing so much hardship globally.

We have to brace up for more problems in the oil sector. I just bought fuel, double the amount it was in the last three months. And I don't know what will happen if the US continues blocking Iranian ports. 

Maga Trumpers are exhausting to deal with. You can literally become a patriot and not support injustice,  I don't know if these people have their brain cells fried out. Iranians are refusing to negotiate until they move the US naval ships move their blockade. The over extension of the ceasefire part of Trumps plan to make money frome the markets.  Iranians and US government can come to an agreement but Benjamin Netanyahu would have that thrown down and Donald Trump would agree immediately. Israel is the big obstruction leading to a successful ceasefire.

[el kaka22]

The conflict will continue for a while longer and we have to accept that, it's clear that we are not going to see this ending anytime soon. Iran will not leave until every single regime supporter is dead, they will continue until their last breath and because of that we are not going to see them stop and ask less, they will continue to demand the same things.

USA is out there doing the bidding for Israel, so they do not actually have anything to say, they just want this to be over, but not seen as losers, that's all they want. Israel on the other hand just wants to keep attacking Iran or their allies, and as long as that continues, the war will not end.

[Mahiyammahi]

So you didn't faced the energy crisis yet, cause you're rn more concern about prices of oil. It's more about not the prices but the supply.  Even though we do have the money to buy oild we don't have enough supply to provide everyone. This energy crisis is greatly damaging us.

Peoples are forming long lines for fuel , electricity are being shut down. We don't have enough public transport. All these things made our life just hell. Each and every product has the direct conncetion with these oil. So in every sector damage is insane. Our famrers are not getting enough Diesel to water plants.

[WatChe]

The conflict will continue for a while longer and we have to accept that, it's clear that we are not going to see this ending anytime soon. Iran will not leave until every single regime supporter is dead, they will continue until their last breath and because of that we are not going to see them stop and ask less, they will continue to demand the same things.

USA is out there doing the bidding for Israel, so they do not actually have anything to say, they just want this to be over, but not seen as losers, that's all they want. Israel on the other hand just wants to keep attacking Iran or their allies, and as long as that continues, the war will not end.

This is very unfortunate that we are not seeing any end of this conflict. The second round of peace talk failed to start after US attacked and seized an Iranian cargo ship. Iran has lost its top leadership in this war and that is why they are determined for revenge. You are right that US want to end this war as a winner and that is why they are dictating there terms and conditions which are rejected by Iran. If this war continuous then oil prices will further go up due to which every country in the world will suffer.

[DYING_S0UL]

Not just oil but every other thing's prices are going up also. Let me tell you what's happening at my place. Right now there isn't sufficient supply. As a result, riders have to wait for hours for oil, even that doesn't fully guarantee whether you will get oil or not. We are in a very dire situation right now. And because there is less oil, the govt increased the oil prices. As a result, the bus fair has also been increased. LPG gases were like 1200-1400 bdt (local currency), but now it's starting from 1800-2200 bdt. Even electricity isn't speared. We are facing multiple load shedding throughout the days (today was like the 6-7 times). The electricity is always coming out from time to time, as it cannot fulfill the current demand. Moreover, the prices for daily necessity, foods have also increased, as transportation section is also suffering.

[9ja Amaka]

The increase in the price of crude oil is not surprising,  because there is serious tension in the middle east and this region plays a major role in the production and supply of crude oil, I think it's economical for it to rise in price in a time like thus. My only issue this increase in the price of crude oil is caused by some few greedy an self centered people that really don't care how their actions will affect the world globally. I think this people should try to come to an agreement,  so this issue can end and it will also be very good for the people.

[Kelward]

Oil is one of the most essential commodities that is needed globally and anything that affects it's price negatively the impact will be felt globally so the war in middle east is affecting the price of petroleum products in most parts of the world. Ironically the ordinary citizens that are end users of crude oil finished products like fuel are the ones that are being affected mostly even though they don't have any say in the conflicts that necessited the wars. As long as the oil shipments from the middle east continues to be halted it will mean more sufferings for the common man on the streets around the world. If petroleum products increase in price it's impact will necessitate increase in price of goods.

I know that in every scarcity there are people and companies that benefits from it and as far as they are concerned the conflicts should continue for a very long time so that they will continue to get richer. The oil marketers and refineries don't care how much their landing cost will be because they will add everything into their cost of production and landings then increase their profit because they are spending more money to get the product to the end users.

[snowpega]

This is very unfortunate that we are not seeing any end of this conflict. The second round of peace talk failed to start after US attacked and seized an Iranian cargo ship. Iran has lost its top leadership in this war and that is why they are determined for revenge. You are right that US want to end this war as a winner and that is why they are dictating there terms and conditions which are rejected by Iran. If this war continuous then oil prices will further go up due to which every country in the world will suffer.

yeah this is really very unfortunate and i agree with you here because I was reading a piece of news headline that Trump has ordered to its military navy that kill or bomb every iran ship that are putting mines in the Strait of hormuz so if thing keep moving this way i don't think they both will come or sit on same table for another round of negotiation. They both should act wisely here, and I think the US needs to act more wisely, as I believe that the US is really meddling in Iran's matters in the Strait of Hormuz.

As far as I know, Iran's foreign minister said that we will only come to the table of negotiation if the US stops blockading in the Strait of Hormuz. And I think this is a very wild thing that makes sense to keep things cool down, but the bad thing is that the US is not stepping back, and Iran is also standing in front of the US rigidly. Well, these are some updates and my point of view on the recent matter. What do you think about it?

[robelneo]

As far as I know, Iran's foreign minister said that we will only come to the table of negotiation if the US stops blockading in the Strait of Hormuz. And I think this is a very wild thing that makes sense to keep things cool down, but the bad thing is that the US is not stepping back, and Iran is also standing in front of the US rigidly. Well, these are some updates and my point of view on the recent matter. What do you think about it?

We're not going to get something good from two parties who want their way and do not consider any option but their own. Yes, we do have a ceasefire, and this is a breather, but this is just a calm before the storm. I just think that the war will continue, and both of them will hurt the supply of countries that rely heavily on this region.

So countries that rely on oil coming from that region should brace themselves for the worse and they should look for other options besides oil coming from that region, or their economy is doomed to suffer.

[bangjoe]

The increase in the price of crude oil is not surprising,  because there is serious tension in the middle east and this region plays a major role in the production and supply of crude oil, I think it's economical for it to rise in price in a time like thus. My only issue this increase in the price of crude oil is caused by some few greedy an self centered people that really don't care how their actions will affect the world globally. I think this people should try to come to an agreement,  so this issue can end and it will also be very good for the people.

They have tried several times to propose a peace agreement, but it has not yet reached an agreed point from both parties because it is still quite long and there is a lot of ego on both sides because after all, both also have the power to bargain.
This war has indeed brought the world to a very expensive oil price so that not a few countries are experiencing an energy crisis in their countries which makes industry and daily activities very expensive because they are very dependent on oil which fuels their vehicles and their industries.

[Jubilee58]

The war in the middle east, precisely between US, Iran and Isreal is really disrupting the global market. The price of fuel is very high. Many of the refineries have been destroyed , strait of Hormuz closed. Because of the scarcity of fuel, many workers are now working at home, and some have even quit from their job because of the cost of transportation.
These petroleum products are very much important that many countries cannot do without them, these countries will continue to face the heat , till the war subsides.

I think at this point, the international community should see how this war can come to an end by making peace between these countries involved as to prevent further escalation.

[obuoma]

The Middle East crisis is far from being over because there is no solution in sight. The only good thing now is that death have reduced since there have been halt to full hostilities but we are at the phase of economic sabotage and that will continue to remain high until the situation there changes. If anything lead to the resumption of hostilities,  I pray we don't go back there, then the price will likely climb the roof top and the effect will be felt across the globe as the cost of everything will rise in response to that of energy.

[Bitcoin_people]

The tension that has arisen due to the conflict in the Middle East and the oil crisis in the world's energy sector have created a terrible situation for everyone. Due to the closure of the Strait of Hormuz, the political leaders of various countries are forming a syndicate in the oil market, as a result of which many traders are stocking their oil. I think it is possible to keep the price of oil in a country at the right level, but when that oil is stocked and traders do not sell it in the market, the price of oil increases rapidly. However, we can already see that the supply of oil through the Strait of Hormuz has become normal in the world market, but still, oil prices in various countries have been reduced, and even increased. I think that as long as this war is not over, there is a possibility of a bigger impact on the world. Currently, since the war has been stopped for only two weeks, this is not a solution, but if the oil price in the world market is to be kept normal in the watershed, the war must be stopped.

[TastyChillySauce00]

Not just oil but every other thing's prices are going up also. Let me tell you what's happening at my place. Right now there isn't sufficient supply. As a result, riders have to wait for hours for oil, even that doesn't fully guarantee whether you will get oil or not. We are in a very dire situation right now. And because there is less oil, the govt increased the oil prices. As a result, the bus fair has also been increased. LPG gases were like 1200-1400 bdt (local currency), but now it's starting from 1800-2200 bdt. Even electricity isn't speared. We are facing multiple load shedding throughout the days (today was like the 6-7 times). The electricity is always coming out from time to time, as it cannot fulfill the current demand. Moreover, the prices for daily necessity, foods have also increased, as transportation section is also suffering.

The effect of oil going up will always spread to other things. Food, furniture, even gallon of water are all transported by a truck that needs oil. This is why when oil is going up astronomically, it will be very dangerous.
When oil go up, everything will go up and the inflation will be amplified by order of magnitudes.

[tabas]

The Middle East crisis is far from being over because there is no solution in sight. The only good thing now is that death have reduced since there have been halt to full hostilities but we are at the phase of economic sabotage and that will continue to remain high until the situation there changes.

There is no window for everyone to expect when it will be over. I won't still celebrate even if there was a reduction of death because it only means that there will still death over this crisis as long as the war isn't stopped.

If anything lead to the resumption of hostilities,  I pray we don't go back there, then the price will likely climb the roof top and the effect will be felt across the globe as the cost of everything will rise in response to that of energy.

It's pretty much that we'll feel the soaring of oil price again by the next coming weeks. If there will be no development of the real negotiations here, there's no hope in it anymore. And that's all what we can do, that's to pray that everything will be fine and for this war to end.

[M47AK16]

Maga Trumpers are exhausting to deal with. You can literally become a patriot and not support injustice,  I don't know if these people have their brain cells fried out. Iranians are refusing to negotiate until they move the US naval ships move their blockade. The over extension of the ceasefire part of Trumps plan to make money frome the markets.  Iranians and US government can come to an agreement but Benjamin Netanyahu would have that thrown down and Donald Trump would agree immediately. Israel is the big obstruction leading to a successful ceasefire.

No matter what you say to magahats, they are not going to really understand it, they will just say "whatever trump is doing, is right, whatever opponents of trump is doing, is wrong" that is literally how they think.

There is no grey area in their brain, they do not see this as something that is more complex, they just think that one thing is right, and one thing is wrong and that's it, end of discussion. Kamal starting a war in Iran? They do not want it. Trump started one? They are happy about it. That's literally how their brain works. So nothing that we can say or do could change that, they are that way, and only thing Americans can do would be making sure they pick a nominee that would get more votes than Trump.

[dansus021]

The International Energy Agency has officially characterized the current crisis as the "largest supply disruption in the history of the global oil market," dwarfing the shocks of the 1970s and 1990s. While the price (Brent Crude futures) is around $105/bbl, the "physical" price (what refineries actually pay to get oil now) has hit as high as $130/bbl, and because of this, the domino effect is hitting every country that is heavily dependent on importing oil from another country. here in indonesia all gas price went up and the derivate product of oil like platic gone 100-200% in a matter of day. The APBN or State budget is red bleeding just to subsidize oil price

Anyway, I found a new meme on the internet

[Cookdata]

So you didn't faced the energy crisis yet, cause you're rn more concern about prices of oil. It's more about not the prices but the supply.  Even though we do have the money to buy oild we don't have enough supply to provide everyone. This energy crisis is greatly damaging us.

Peoples are forming long lines for fuel , electricity are being shut down. We don't have enough public transport. All these things made our life just hell. Each and every product has the direct conncetion with these oil. So in every sector damage is insane. Our famrers are not getting enough Diesel to water plants.

There is fuel in some regions with adequate supply of oil but the problem about oil is that it's a global fix and not regional. There are some part of the world that has excess fuel but the price is high but just because it's available doesn't automatically make it cheap for people to buy and one disadvantage of oil been globally priced, even if the there is excess supply when the Strait of Hormuz finally have no restriction, the price will not comes down immediately until the of stock are sold.

We don't have long ques here but we have energy crisis, the cost of funding gas reserve is expensive now and considering that gas power stations contribute to about 70% of power generations here, we are stuck with less power. You can have access to uninterrupted power supply 24/7 unless you are privileged to have solar power in your home which depend on the Wh you are producing and storing on your banks, power has been terrible lately.

[DYOR+BTC]

The International Energy Agency has officially characterized the current crisis as the "largest supply disruption in the history of the global oil market," dwarfing the shocks of the 1970s and 1990s. While the price (Brent Crude futures) is around $105/bbl, the "physical" price (what refineries actually pay to get oil now) has hit as high as $130/bbl, and because of this, the domino effect is hitting every country that is heavily dependent on importing oil from another country. here in indonesia all gas price went up and the derivate product of oil like platic gone 100-200% in a matter of day. The APBN or State budget is red bleeding just to subsidize oil price

Anyway, I found a new meme on the internet

This unresolved conflict that has continuously affected everything in the middle east now needs serious attention as the increase in the price of crude oil all happened because of the war and can never be regulated until the end of the war. With the way things are going now i think and know the price of crude oil will continue skyrocketing until the end of the war if not the worst on the increase in that price will still continue.
Although every problem has solution, if the increase in price of crude becomes a problem i think most nations in the eastern part of the world will be faced with know option than to diversify into other source of energy as proposed earlier before now

[snowpega]

We're not going to get something good from two parties who want their way and do not consider any option but their own. Yes, we do have a ceasefire, and this is a breather, but this is just a calm before the storm. I just think that the war will continue, and both of them will hurt the supply of countries that rely heavily on this region.

So countries that rely on oil coming from that region should brace themselves for the worse and they should look for other options besides oil coming from that region, or their economy is doomed to suffer.

Mate, they have to settle down their conflicts using some ways as they there is no thing like they should cool things down now it is like they have to. Because their conflicts in damaging both of them more and besides this all other international countries economies are also getting affected by iran and US conflicts. Other than this, dear if we talk about using other paths after strait of Hormuz then importing oil from those paths are highly costly which mean the rate of inflation will stay same or will increase.

And besides this, if we talk about converting from those technologies that do not need oil to run then this is currently kind of impractical thing for a whole world. But no doubt the world is evolving very fast but it still need oil. What do you think?