New hostilities and the resulting fears of a renewed outbreak of conflict in the Middle East have led to further increases in the price of Brent crude.
Following the latest attack on an oil refinery in Saudi Arabia—for which the Houthis claimed responsibility, though this has not yet been confirmed by Riyadh— the price per barrel rose after two consecutive days of decline.
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
Specifically, the price rose by more than one dollar, reaching $117 per barrel in the morning before falling slightly to $116.35 by the afternoon.
Adding to market concerns were reports suggesting that the United States is preparing for a new campaign against Iran.
WALL STREET JOURNAL
: “The U.S. has asked several Arab Gulf countries to be prepared for a short, intense military campaign following the U.S. midterm elections, according to sources familiar with the discussions. Communications through diplomatic and military channels are among a growing number of indications that the U.S. and Israel are preparing to launch a new round of intense military operationsagainst Iran, risking a significant escalation.”
In Cyprus, however, there does not appear to be a corresponding rise in fuel prices.
While price increases were expected about ten days ago, fears in Cyprus have not materialized so far.
In a report by our station on October 19, it was noted that the average price of unleaded 95 was €1.759, diesel at €2.018, and heating oil at €1.679. Today, the average price of unleaded 95 is €1.728, diesel is €2.004, and heating oil is €1.594.
According to estimates by gas station owners, the current increases in global prices are not likely to leave prices in Cyprus unaffected.
Neoklis Neocleous reportage:
