Iranian counterattack: Oil prices rise after Israel attack

Iranian counterattack: Oil prices rise after Israel attack

The conflict between Israel and Iran has put global energy markets on alert. Following a retaliatory strike by Israel against Iran, Iran's reaction and in particular the possible impact on the Strait of Hormuz is now being awaited with great excitement. The Strait of Hormuz is crucial to the global economy, carrying 21 percent of global crude oil shipments.

Experts around the world are speculating about possible scenarios that could occur if Iran takes measures to disrupt or even stop shipping traffic in the Strait of Hormuz. A closure of this crucial waterway could trigger a global crisis, particularly for the oil and gas trade on which many countries depend heavily. Asian countries, which source most of their oil from this region, would be hardest hit.

It remains unclear whether Iran would actually close the Strait of Hormuz, as this would also affect its own oil exports. However, if the US and its allies impose tougher sanctions on Iran, it could force Iran to take extreme measures. Nevertheless, Iran could use its influence over neighboring countries such as Iraq to try to manipulate oil prices and put pressure on the West.

The possible closure of the Strait of Hormuz and the associated impact on the oil market could have far-reaching consequences. Experts are warning of a possible “economic catastrophe” if the flow of oil through the Persian Gulf is seriously threatened. Despite short-term price increases due to geopolitical tensions, analysts such as Ellen Wald are optimistic about the future as long as the flow of oil from the Persian Gulf is not permanently interrupted.