In the New York crude oil market on the 19th, concerns spread that the Israeli-Palestinian situation would become more tense and the supply of crude oil would decrease, and the international crude oil futures price temporarily rose to the level of 1 barrel = $90.
It is the highest level since the clash between the Islamic organization Hamas and the Israeli army, and if the price continues to rise, there are concerns that inflation will worsen.
In the New York crude oil market, crude oil prices have been on an upward trend since October 10, when the clash between Hamas and the Israeli military occurred, and on the 7th, the futures price of WTI, which is an indicator of international crude oil trading, temporarily rose to the level of 19 barrel = $1.
It is the first time in about two weeks since October 90 that 1 barrel = $90 is the highest level since the clashes between Hamas and Israeli forces.
The main reason is that Iran proposed an oil embargo on Israel to Islamic countries on the 10th in response to the explosion of a hospital in the Gaza Strip on the night of the 3th, and there is a growing concern that the supply of crude oil will decrease if the situation in the Middle East becomes more tense and affects oil-producing countries.
If crude oil prices continue to soar, there are concerns that inflation will worsen.
"Many investors are wary that Iran will become more involved if Israel launches a ground invasion of the Gaza Strip, and oil prices may rise further depending on the movements of Iran and OPEC = Organization of the Petroleum Exporting Countries of the oil-producing countries," market participants said.