Why are crude oil prices falling?
The only reason for the fall in crude oil prices is that Iran has not yet decided to close the waterway for supply of crude oil to Asia.
Due to the Iran and Israel war, the prices of crude oil reached up to $ 74 .
The biggest reason for the increase in the price of crude oil was believed to be that due to the war between Israel and Iran, the waterway leading to Iran might be blocked.
A proposal to close the waterway has also been put forward in Iran’s parliament.But Iran has not yet made any official announcement under which it wants to close the waterway carrying crude oil.
Why are crude oil prices falling
When America attacked Iran’s three nuclear plants, it was expected that Iran would close the waterway, which would put India and China’s crude oil supply at risk.
But in response to the US air strike, Iran has attacked the US air base in Qatar.
Iran has not yet made any announcement under which it will close the waterways carrying crude oil, due to which the prices of crude oil have suddenly fallen by more than 10%.
Meanwhile, US President Donald Trump has tweeted that cheese will be fired between Israel and Iran within the next 24 hours.
But Iran says that it has not made any such announcement as to what the deal would be on, nor has Israel yet placed any proposal before Iran for the cheese fire.
Where the price of crude oil had increased due to the Israel-Iran war and people felt that just like the price of crude oil had reached above $100 during the Russia-Ukraine war, the same would happen during this war.
People were sleeping that this time too the prices of crude oil will rise suddenly and will go up a lot.
But due to the actions of US President Donald Trump, we can say that the price of crude oil will not increase in the market now.
Why are crude oil prices falling?
It has been observed since last night that the price of crude oil has fallen by more than 12%.
All this can also be done to mislead investors.
If there is no ceasefire between Israel and Iran and Iran takes some big step and takes such a retaliatory action which will impact the future of crude oil.
India and China are the biggest buyers of crude oil from Iran. If Iran stops the supply of crude oil or takes any action or closes the waterway, then it is quite likely that the price of crude oil will skyrocket.