The barrel price of Brent oil, which rose to $111.90 yesterday, finished the day at $107.38.
The barrel price of Brent oil increased by approximately 6 percent compared to the closing time at 9.57 today, reaching 113.85 dollars. At the same time, West Texas Intermediate (WTI) crude oil was sold at $96.49 per barrel.
Oil prices rose as a result of the attack on some refineries of the South Pars natural gas field, located in the Persian Gulf, south of Iran. While Israel claimed responsibility for the attacks on the country’s largest natural gas processing facility, it carried out an attack on natural gas facilities for the first time in Iran after the attacks they initiated with the USA.
Iranian media had announced that the Asaluye refinery, where gas and oil from the South Pars field shared with Qatar, one of the largest natural gas fields in the world, was processed, was hit.
Iran’s attack on energy facilities in the Middle East within the scope of the ongoing conflicts with the USA and Israel also supported the price increase. This development increased supply concerns and increased Brent prices by approximately $6 per barrel. Experts state that the escalation of tension in the Middle East, pinpoint attacks on oil infrastructures and losses in the Iranian administration indicate long-term disruptions in oil supply.
Iranian missile attacks on the Ras Laffan region, where Qatar’s main liquefied natural gas (LNG) processing facilities are located, reportedly caused “widespread damage” to the energy infrastructure. Saudi Arabia announced that four ballistic missiles directed towards Riyadh were destroyed and a drone attack on a natural gas facility was prevented.
It was noted that Iran issued an evacuation warning before the attacks on some oil facilities in Saudi Arabia, the United Arab Emirates and Qatar, and that this step was intended to retaliate for the attacks on the energy infrastructure in South Pars and Asaluye, one of the world’s largest natural gas fields.
US President Donald Trump claimed that the US knew nothing about the attack, that Qatar had nothing to do with it and was unaware that the attack would take place. Trump claimed that Iran “unfairly” and “unfairly” attacked part of Qatar’s LNG gas facility.
Trump stated that there will be no further attack on the South Pars gas field by Israel unless Iran decides to attack Qatar, and said, “If such a situation occurs, the United States will blow up the entire South Pars gas field with force and violence that Iran has never seen or witnessed before, with or without Israel’s help or approval.” he said.
In addition, the US Federal Reserve’s (Fed) message of tight monetary policy while keeping interest rates constant increases concerns about the economic effects of the war. While the Fed kept the policy rate constant, it predicted that inflation might rise due to the developments in the US-Israel-Iran line.
It is stated that technically, in Brent oil, $ 114.68 can be watched as resistance and $ 111.03 can be watched as support.
