FT: Energy crisis due to Middle East conflict enters new phase
The global energy crisis triggered by the Middle East conflict is entering a new phase due to the approaching summer season.
The Financial Times newspaper reported this, citing sources.
According to its information, about 80 countries have introduced emergency measures to protect their economies. Paul Diggle, chief economist at the Aberdeen asset management company, told the newspaper that the price per barrel of Brent crude oil could reach $180.
The situation with supplies of oil, diesel, and aviation fuel could be exacerbated by increased citizen demand for air conditioners and foreign travel. Economists have reported the possibility of a new spike in oil prices due to the record-fast depletion of global reserves observed, the newspaper indicates.
European Commissioner for Transport and Tourism Apostolos Tzitzikostas, whose words are cited by the newspaper, stated that if the Middle East conflict is not resolved in the coming weeks, then "a global recession could become inevitable."
In early May, the head of the Russian Direct Investment Fund Kirill Dmitriev stated that the world is moving towards the largest energy crisis in history due to record growth in oil prices. The exacerbation of the situation on the global energy market is linked to the conflict in the Middle East, including strikes by the US and Israel on Iranian territory and tensions around shipping in the Strait of Hormuz area.
Source: TASS
