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Tehran. There is bad news for the people expecting petrol and diesel to become cheaper. The war between Iran and America (Iran-America War) has intensified. The rain of missiles has set crude oil prices on fire. Now the international benchmark Brent crude is rapidly running towards $ 100 per barrel. In such a situation, the danger of energy crisis increasing once again across the world has increased.

Crude oil prices rose by more than 1.5% as soon as trading began on Wednesday morning. This surge comes after Tuesday's sharp rise, when both types of oils became more expensive by more than $4. According to Bloomberg, the price of West Texas Intermediate (WTI) crude was trading at $ 91.83, up $ 1.61 per barrel at 7 am and the international benchmark Brent crude was up $ 1.91 per barrel at $ 96.56.

Rain of missiles between America and Iran overnight

America launched air strikes on Iranian targets, in response to which Iran retaliated. This is the most serious clash between the two countries in weeks. According to US Central Command, these attacks were carried out in response to recent actions by the Iranian Revolutionary Guards (IRGC), in which they attempted to attack merchant ships and US troops in the Strait of Hormuz.

Crisis deepens on Hormuz

Iranian Revolutionary Guards have warned that the US attacks will further close the Strait of Hormuz. It is noteworthy that one-fifth of the world's oil consumption used to pass through this route, but now Iran has effectively closed it for commercial ships.

Iran's retaliation and new attacks

The IRGC fired ballistic missiles at a US military base in Jordan and claimed to have killed a large number of US soldiers. According to Iranian media, a large-scale drone attack was carried out on the American base in Bahrain. The Jordanian army destroyed 10 out of 13 missiles in the air. US officials have not yet confirmed any damage. Kuwait has also deployed its forces against enemy drone activity.

attacks on tankers

Clashes intensified last weekend (for the first time since July). On Monday, two tankers leaving Hormuz were also attacked, due to which oil supplies have been badly affected and traders are forced to look for alternative routes.