Crude oil prices will rise to $120

Mumbai: After Israel launched a large-scale military operation against Iran’s nuclear and military facilities, crude oil prices in the world market jumped by 7 to 8 percent, now J.P. Morgan has warned that if geopolitical tensions in the Middle East increase further, oil prices could rise to $ 120 per barrel. Investment bank J.P. Morgan has further said that the current price already indicates a potential jump of 7 percent to 8 percent in the worst-case geopolitical situation, in which Iran’s oil supply to the world market is disrupted on a large scale. Meanwhile, experts are indicating that the current surge in crude oil prices will not have a significant impact on the current global oil supply situation. But if the Iran-Israel war spreads to more countries in the Middle East and if the US, including Iran, directly sides with Israel in the war, given the US’s warnings, then there is a possibility of the war escalating and the supply of crude oil being disrupted.

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