look news india
Very scary and big news is coming out from the world’s most sensitive region, the Middle East. The tension between America and Iran over the security of shipping routes and merchant ships in the Strait of Hormuz has now reached the brink of a major war. The US Army, adopting an aggressive stance against Iran, has continued fierce air strikes for the 13th consecutive night. Amidst this fierce military conflict and the threat of supply chain disruption, crude oil prices have started skyrocketing in the global market and crude oil has crossed the figure of $ 100 per barrel.
Why are there rapid American attacks on Iran?
According to information received from the US Central Command and military officials, on Thursday evening the US Air Force once again targeted Iran’s internal military infrastructure and strategic targets. The US Army clearly says that this military action is being taken to give a befitting reply to the continuous threats and attacks being made against commercial ships in international waterways by the Islamic Revolutionary Guard Corps (IRGC). Amidst stern warnings from US President Donald Trump, this is the 13th consecutive day that the US military has carried out such deadly strikes against Tehran.
Ship traffic stopped in the Strait of Hormuz
This entire dispute has arisen over the control of the world’s most important chokepoint i.e. the Strait of Hormuz and the shipping routes passing through there. A large part of the total global oil exports passes through this route. Iran is constantly being accused that its Revolutionary Guards are continuously targeting international merchant ships in the region and hindering their movement. The situation on this sea route has remained extremely tense since America and its allies blamed Iran.
Record jump in crude oil prices, oil crossed 100 dollars
The direct impact of this great crisis in the Middle East is now visible on the economy of the entire world. There has been panic in the global market after the movement of ships through the Strait of Hormuz as well as Bab el-Mandeb was seriously disrupted. Crude oil prices have suddenly jumped by seven percent and Brent Crude has crossed $ 100 per barrel. Before this, the last time oil had reached this high level was in the month of May. At the same time, American crude has also crossed the figure of $ 90 per barrel. Economic experts and experts estimate that if this conflict does not stop soon, then in the coming days the prices of crude oil may increase to $ 120 per barrel, which may lead to a major round of inflation across the world.