Crude oil can hit 9000 mark again in coming 3-4 month

Aug 17

The recent assassination of a Hamas leader by Israel and Iran's promise of retaliation could escalate tensions into a broader conflict in the Middle East. This situation raises concerns that Iran might block the strategic Strait of Hormuz, a critical chokepoint for global oil trade. Additionally, there are speculations that Iran could test a nuclear device in the coming months, potentially declaring itself a nuclear state. Russia's continuous supply of S-300 and S-400 missile systems to Iran further suggests that something significant may be in the works. These developments could have profound implications for oil markets and global stability.