Fears of a Global Oil Shock if the Mideast Crisis Intensifies
Posted inAfrica Alternative and Renewable Energy Biden, Joseph R Jr China Developing Countries Economic Conditions and Trends Europe International Relations International Trade and World Market Iran Israel Middle East Oil (Petroleum) and Gasoline Putin, Vladimir V Refineries Russia Russian Invasion of Ukraine (2022) United States Economy United States International Relations War and Armed Conflicts

Fears of a Global Oil Shock if the Mideast Crisis Intensifies

The threat of an escalating conflict between Israel and Iran has created an “extraordinarily precarious” global situation, sowing alarm about the potential economic fallout.
Oil Price Jumps After Biden Says ‘Discussing’ Potential Israeli Strike on Iranian Facilities
Posted inBiden, Joseph R Jr Embargoes and Sanctions Hezbollah International Relations Iran Iran-Israel Proxy Conflict Israel Israel-Gaza War (2023- ) Missiles and Missile Defense Systems Netanyahu, Benjamin Oil (Petroleum) and Gasoline Prices (Fares, Fees and Rates) United States International Relations War and Armed Conflicts

Oil Price Jumps After Biden Says ‘Discussing’ Potential Israeli Strike on Iranian Facilities

The president was asked about a potential strike on the oil infrastructure of Iran, which accounts for about 2 percent of the world’s supply.