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Iran Israel Tension: Due to the ongoing war between Israel and Iran, the price of crude oil has seen a rise during the last one week. In such a situation, the possibility of this has increased that in the coming days, its price can be seen further. Now the statement of Union Petroleum Minister Hardeep Singh Puri has given relief about this. He said that there has been tension between Israel and Iran for the last about a week, but there is no shortage of oil. He said that global energy prices are completely under control.
Talking with a private channel, he said that people are definitely afraid that when Iran’s important nuclear installations were attacked by Israel on June 13, there was a possibility of increasing oil prices since then. But he said that the situation is not worrying.
Crude oil in control
He said that people feared that the price of crude oil could cross $ 100 per barrel, but during the last few months its price is being made around $ 75 per barrel as per expectations. Significantly, Iran is the largest oil producing country in the world, which produces 3.3 million barrels of oil daily, which exports about 2 million barrels and refined oil.
The rise in oil prices has been seen by the US after the possibility of directly landing in Israel and Iran war. Speaking about the reports of the Gulf of Hormuz, where about 20 percent global oil is supplied, Hardeep Singh Puri said that this step will not be good for the oil import countries including India.
Oil gains on Thursday
Here, the price of crude oil in futures trading rose to Rs 6,397 per barrel on Thursday by increasing the size of their own deals amidst strong demand in the foreign market. In July, the price of crude oil supplied at the Multi Commodity Exchange (MCX) rose by Rs 63, or 0.99% to Rs 6,397 per barrel. It had a business for 8,943 lots.
Experts say that the futures prices were affected due to the increase in their deal by the participants amidst strong global trend. Globally, the price of West Texas Intermediate crude oil in New York gained 0.27% to $ 75.34 per barrel while Brent crude oil rose 0.29% to $ 76.92 per barrel.
