DOE: Oil prices to rise if Israel war worsens

The Department of Energy said Tuesday oil prices will continue to rise until the end of the year if supply constraints worsen due to the conflict in Israel.

Romero said the outlook “sometimes diverges, especially when there are issues such as geopolitical and armed conflict such as the Israel war.” “We do not source from Israel, but its surrounding area in the Middle East. Iran is still on sanction, and Iran is not the only big producer,” she said.

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