Oil prices are going up due to Middle East conflicts

[FanEagle]

Oil is a finite resource that is causing all of this trouble whenever something like this happens. I have said this before, and I will say it again, the dependency of other nations for oil is the reason why we should be investing a lot more on renewable energy.

We need to not only build solar panels and wind turbines all over our countries, but we also should be investing heavily into R&D of these products to make them even more efficient and easier to do logistics. Because nature is a good reason for it, but being independent on energy is the main weapon.

[9ja Amaka]

I don't think we should be surprised with the rise in price of oil, especially in the middle east. The middle east plays a very big role in the production of oil in the world and with the unrest in the middle east right now, we should all know that it's definitely going to affect the price oil. Iran is one of the major dealers in oil and they are at war right now, so I am not surprised in what is going on in the oil market right now. I just hope this war comes to an end, because this is really affecting the whole world right now.

[DrBeer]

Oil is a finite resource that is causing all of this trouble whenever something like this happens. I have said this before, and I will say it again, the dependency of other nations for oil is the reason why we should be investing a lot more on renewable energy.

We need to not only build solar panels and wind turbines all over our countries, but we also should be investing heavily into R&D of these products to make them even more efficient and easier to do logistics. Because nature is a good reason for it, but being independent on energy is the main weapon.

Oil is a finite resource, but like everything else, that’s all it is. In reality, there is a LOT of oil, but not much of it is easy to extract. There are plenty of deposits that are simply more expensive to develop and extract. But if there’s demand, they’ll extract that oil too.
 

[summonerrk]

There was very little oil-related news yesterday, but that didn't stop oil prices from rising all day. WTI crude futures for next month's delivery have again exceeded 100 bucks and are approaching the highs that were reached during the initial events in the Middle East.Oil prices rose after Trump left a meeting with his Chinese counterpart without seriously discussing the issue of increasing energy flows through the Strait of Hormuz, which again raised concerns about a deepening disruption in global supplies. As for the worried traders, they do not believe that the United States and Iran will somehow come to an agreement before May 31.

[bubilas]

There was very little oil-related news yesterday, but that didn't stop oil prices from rising all day. WTI crude futures for next month's delivery have again exceeded 100 bucks and are approaching the highs that were reached during the initial events in the Middle East.Oil prices rose after Trump left a meeting with his Chinese counterpart without seriously discussing the issue of increasing energy flows through the Strait of Hormuz, which again raised concerns about a deepening disruption in global supplies. As for the worried traders, they do not believe that the United States and Iran will somehow come to an agreement before May 31.

Only one in ten bets on this case. 12% on the Polymarket, the figures are very significant. That is, roughly speaking, traders simply have nothing to cling to in order to come to a conclusion about the world. And here is another indicator of the normalization of traffic through the Strait of Hormuz - this is 6%. There has been growth in the physical oil markets in recent days, which is reminiscent of the broader shortages that have affected the global oil industry as a result of the conflict. Although, of course, Trump publicly denies all this, but in fact, the price of gasoline at gas stations in the country is primarily important for the United States.