look news india
New Delhi: The Israel-Hamas war has now reached the Middle East and West Asia. Oil-rich Iran, Iraq and Syria have come in the grip of this war. Even political or geopolitical experts cannot predict what will happen tomorrow. War does not stop but spreads. has expanded.
On top of this, Goldman Sachs analyst Dan Struvian wrote in a note that crude oil prices are likely to rise by at least $5 to $10 per barrel. He as well as other analysts say that Iran has increased its crude oil production by 20 percent in the last two years. It produces 3.4 million barrels per day, which is 3.3 percent of global production.
Analysts say that this crude oil is mostly being purchased in India and West Asian countries and East African belt. But now geopolitical risks have increased.
Keeping this risk in mind, Warren Patterson and Evamanthe, New York-based strategists at ING Group, say it depends on how Israel reacts (to an Iranian attack).
These analysts may have adjusted their analysis slightly to avoid panic about oil prices, but even the 'man on the street' can understand that as the oil-rich Middle East burns, crude oil prices Are going to increase. After that the price of every item increases. The middle class will have to tighten its belt. The upper class is not going to change at all. Increasing prices will increase the value of their products. What should we do? Raw materials have become expensive. The poor are used to poverty. What is its expensive smell? Poverty has become life. Maro is from the middle class. Far from ending the war, the possibility of a world war breaking out is also looming.