Oil prices exceed $115 per barrel

Oil prices in the international market have reached their highest level in almost two weeks amid rising tensions over the US-Israeli conflict over Iran. Oil prices have exceeded $115 per barrel.
Today, Monday (March 30) rose 2.9 percent from the previous day to $115.93 per barrel. This is 62 percent more than on February 27. On the other hand, the price of Brent crude in the United States rose 3.01 percent to $102.64. According to OilPrice.com, the rate of increase in oil prices has also exceeded the rate of increase during Iraq’s invasion of Kuwait in 1990.
In such a situation, analysts are worried about a global economic recession. Before the Iran war, oil prices were around $72 per barrel. Energy analysts say the market has not yet fully understood the true impact of this crisis and its economic impact will become clearer in the coming months.