The price of crude oil continues to rise following the US attack at the end of last week in which the essential Iranian General Qassem Soleimani was killed. The stock markets are also falling.
The price for a barrel of oil of the American type WTI rose to $64.72 in early trade. That is the highest position since April. The price for a barrel of oil from the North Sea species Brent also rises to $70.23.
There are fears that the situation in the Middle East is getting out of hand and hampering supplies from the important oil region. For example, there are fears that Iran could attack oil tankers in the Persian Gulf in retaliation.
The stock markets are also suffering as a result of the conflict. Asian stock exchanges lost one and a half to two percent and this trend is also continuing to a lesser extent in Europe. There, the stock exchanges are losing half a percent.
Much will depend on the further escalation of the conflict. According to observers, this could be less than expected, partly because the Iranian economy has been in a state of disarray for some time now. The investors are nervous and will follow this closely but they’re used to something. Just think of the trade war between the U.S. and China, where an agreement seems to be reached after all.