Crude oil prices are on the rise again! The price of US crude oil WTI jumped 1% to $68 per barrel, driven by uncertainty caused by American tariff policies and geopolitical turmoil. Seasonal travel demand is also pushing prices up, while drone attacks in Iraqi Kurdistan have cut production by 200,000 barrels per day. Israeli strikes in Syria and regional instability add to market jitters. Global consumption in July is about 101.2 million barrels per day, and any supply disruption immediately impacts prices. So buckle up for more expensive fuel and energy bills. Who’s to blame? The US with its tariffs or the chaos in the Middle East? Or both? What do you think? Drop a comment and let’s see who you think is the biggest culprit!
