Crude Oil Price Spikes Upward Following Conflict Between Iran and US
RIO DE JANEIRO, BRAZIL – The price of a barrel of West Texas crude oil exceeded US$65 on Wednesday, January 8th, an increase of over four percent in one day. The rise is a reflection of the crisis and conflict between Iranians and Americans.
In an interview with US television network Fox News, Republican Senator Lindsey Graham, close to Donald Trump, admitted that Washington may now target oil facilities in Iran.
Should this scenario materialize, the price of black gold may eventually skyrocket.
As a further consequence of the international conflict, several airlines have decided to redirect flights to avoid overflying the airspace in the Middle East.
Emirates, Lufthansa, Air France, and Australia are among the many diverting their routes.
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