Singapur 20. mája – Oil prices rose on Monday morning, with Brent crude prices breaking above $84 a barrel. The price increase is due to political uncertainty in key producing countries.
In Iran, President Ebrahim Raisi was killed in a helicopter crash. The Iranian foreign minister, Hossein Amir Abdollahian, was also killed in the crash. This event has raised concerns about stability in the region and the potential for disruption to oil supplies from Iran.
In Saudi Arabia, Crown Prince Mohammed bin Salman has postponed a visit to Japan due to the deteriorating health of King Salman. This postponement comes at a time when OPEC+, the oil producers’ group in which Saudi Arabia has a dominant influence, is expected to make a decision on production policy soon.
Markets expect oil prices to remain volatile until the situation in Iran and Saudi Arabia becomes clearer. Another factor that will affect oil prices is the OPEC+ decision on production. Analysts expect the cartel to decide to maintain current production levels, but there is also a possibility that it will increase production slightly to meet growing demand.
Oil prices could remain above $80 a barrel in the coming weeks if geopolitical uncertainty remains high. However, if OPEC+ increases production, prices could moderate slightly.
In addition to geopolitical factors, economic factors also affect oil prices. Positive economic data from the US and China, the world’s two largest oil consumers, suggests that oil demand could grow in the coming months. This could lead to a further increase in oil prices.
Oil markets will be watching developments in Iran, Saudi Arabia and the OPEC+ meeting closely to see what impact these factors will have on oil prices in the future.
