Tension in the Middle East causes rising of oil prices
The current tension in the Middle East has boosted oil prices, which in turn is positive for the Venezuelan economy
Conflicts in the Middle East have always influenced oil prices. The current crisis in the region is no exception, and the increase in the price of a barrel of crude oil has a positive impact on the Venezuelan economy.
Expert opinions indicate that conflicts in the Middle East generate an upward trend in oil prices, benefiting producing countries. In the case of Venezuela, the Merey blend could be one of the beneficiaries of the international crisis.
It is well known that armed conflicts usually lead to an increase in oil demand, which would positively impact national exports.
The market reaction to the conflict between Iran and Israel is expected to be the same as in other similar situations, with the price of a barrel of crude oil skyrocketing.
M.Pino
With information from national and international media and agencies
(Reference image source: Delfino Barboza on Unsplash)
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