The death of Israel's biggest enemy Hezbollah Chief Hassan Nasrallah can invite inflation in the world. Yes, this is not being said just like that. The death of Hassan Nasrallah can give rise to a great tension in the Middle East. The effect of which can be seen in the oil supply of the Middle East and an increase in the prices of crude oil can be seen. As on September 27, the increase in crude oil happened only because there is tension in the Middle East. Now the chief of Hezbollah has died through Israel's air strike. To which Lebanon will also be ready to answer. The countries of the Middle East will also support this.
The effect of this tension can be seen in the prices of crude oil on Monday. If experts are to be believed, the price of crude oil may see a rise of up to 5 percent. This means that the prices of Brent crude oil may come closer to $ 72 per barrel to $ 75 per barrel. If this happens, the biggest impact will be seen in those countries of the world which are dependent only on the import of crude oil. Let us also tell you what are the prices of crude oil at present and how much impact can the death of Hezbollah Chief have on the prices of crude oil.
After the news of the death of Hezbollah Chief, tension has spread throughout the Middle East. According to Reuters report, Iran's Supreme Leader Ayatollah Ali Khamenei has been shifted to safe havens. On the other hand, Israeli air strikes are going on continuously on Hezbollah bases on the Israeli side. On the other hand, Iran is busy in making contacts with Hezbollah and other regional organizations so that it is possible that Israel can be responded to soon. This means that tension in the Middle East is sure to increase in the coming days. The effect of which can be clearly seen in the prices of crude oil.
After the death of Hezbollah Chief, there may be an increase in the prices of crude oil in the global market. According to experts, the price of crude oil may see a rise of up to 5 percent. After which the price of Brent crude oil may come to $ 75 per barrel. On the other hand, there will be an increase in the price of American crude oil. Which can go beyond 71 dollars per barrel. This means that both types of oil may see an increase of $3 or more. On Friday, due to the tension in the Middle East, the price of Brent crude oil saw an increase of more than 0.50 percent and an increase of 0.75 percent was seen in the price of American oil.
If we talk about the price of crude oil, then the price of Brent crude oil is at $ 72 per barrel. In the last one month, there has been a decline of 11 percent in the price of Brent crude oil. If we talk about the current year, the price of Brent crude oil has fallen by more than 7 percent. On the other hand, if we talk about the price of American crude oil, it has fallen by 10 percent in a month and currently the price has reached $68.18 per barrel. Which can go beyond 71 dollars per barrel.
Ajay Kedia, director of Kedia Advisory, says that the death of Hezbollah chief is a big trigger for the increase in crude oil prices. When the markets open on Monday, a rise of up to 5 percent may be seen in the prices of crude oil. This means that the price of Brent crude oil can jump from $ 72 to beyond $ 75 per barrel. In the coming days, the tension in the Middle East may operate on the prices of crude oil, because this tension may increase further due to interruption in oil supply and possible retaliatory action from Iran and Iraq.
