Iran War: WTI Oil Price Surpasses $100 for First Time Since 2022

The price of WTI (West Texas Intermediate) crude oil surpassed $100 for the first time since July 2022, following tensions in Iran. Upon opening of the Chicago Mercantile Exchange (CME), the WTI barrel for April delivery recorded a 13.84% increase, reaching $103.48.

The increase in oil prices impacts the global economy, benefiting energy exporters outside the Middle East while burdening importers. Europe, Japan, and Korea, as major oil importers, face economic challenges.

Conflicts in the Middle East increase risks, with concerns focused on the pressure exerted on the economic growth of import-dependent countries. Simultaneously, the strong dollar intensifies financial conditions and reduces returns for investors in emerging markets.