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.

[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.

In recent days, there has been a noticeable increase in the number of supertankers transporting unauthorized oil (mainly Iraqi) through the Strait of Hormuz. Since May 10, 4 supertankers, each with ~2 million barrels, have left the strait.
This only partially eases the situation in the oil market after the largest supply disruption in history. Before the war, about 20 tankers passed through the strait every day, now the traffic is much lower. In general, the Strait of Hormuz has remained largely blocked since the end of February due to the war and the American blockade of Iranian ports. This has led to a reduction in global supplies by about a billion barrels.
Overall, despite the growth in traffic, volumes remain low. Analysts note that even with the departure of all tankers, new ones will not enter in the near future.

[snowpega]

Well, this is really a thing that is becoming a more worrying matter. I am not seeing any positive conclusion from either side, not from Iran nor the US. They are both rigid in this matter as both want to be accepted on their terms on each side, but they are failing to accept some terms. Iran is also rejecting the US some proposal, and the US is rejecting Iran some proposal, which is not a good sign. If things keep moving this way, how can we see this war ending a shorter time frame?

They both have to make some mutual agreements that can give benefit to both sides and this can be the best way to escalate from this war. And if they are not stopping this war soon then i belibve the condition of the world econmies can get worse then we think. The rate of inlfation can hike more which in result people have to suffer bad consiquences. What do yoy guys think on this matter?

[Rabata]

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.

When oil refineries were attacked in this war in the Middle East, it was not difficult to understand that there would be a major impact on the price of oil worldwide. Oil prices have increased almost everywhere in the world and if the war breaks out again, its price could increase further. The panic around the world has not subsided yet. Recently, after the visit of US President Donald Trump to China, Everyone is in fear about the new threat. Although many people no longer want to believe Donald Trump's words, if for some reason the war starts again, there is no doubt that the war will be prolonged and it can be said that it will definitely bring great losses.

[Cheema02]

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.

Its a very valid point that mainly strong leaders meet directly to solve major global issues so when super power countries leaders visits personally then the discussions are very important by economically and politically. Mainly China and USA  conflicts is seen due to
 trade. After this visit of Trump global market expectidly improves which influence the worlds economy. Obviously in this talk discussions on regional stability must be held and especially on the reopening of Strait Of Hormuz because its the important oil trade route and also a very important matter which demands attentions to solve it. Both countries have strong economy and are super powers so both protect there own interests firstly but diplomacy is much more better than conflicts and through talk many ways are open to stable the situations to leads the world in right direction.