A sudden surge in crude oil prices is being directly linked to the actions of US President Donald Trump. Trump, who had previously stated progress in negotiations with Iran, put forward an unexpected demand that influenced the international oil market.
The price of Brent Crude Oil sharply rose by approximately 5 percent. On Monday, there was another significant jump in crude oil prices on the international market. The price of Brent Crude Oil exceeded the $87 per barrel mark, showing a rise of about 5 percent. At the same time, WTI Crude Price traded around $82, demonstrating a growth of more than 4.50 percent. Additionally, the price of natural gas increased by 4.60 percent, reaching $2.784.
This sharp increase in crude oil prices occurred after Donald Trump presented a new demand to Iran. Trump demanded compensation for those who were killed or seriously injured during various conflicts related to Iran. Trump stated directly that this issue would be included in future discussions within the negotiations between the US and Iran.
Despite repeated statements about a possible peace agreement between the US and Iran in the context of the Middle East conflict, tensions have not yet been resolved. Although hostilities have ceased, tension remains around the Strait of Hormuz, which is critically important for transporting about 20 percent of the world's oil volume.
It should be noted that Trump's demand for compensation was made after five months of military confrontation with Iran. Trump called this demand an 'interesting idea' and announced that he was also making similar demands to Tehran. This new turn in US-Iran relations has provoked an increase in oil prices and once again raised the risk of inflation globally.
