TIMELINE: Middle East conflict and its impact on global oil prices
The beginning of Week 4 of the conflict in the Middle East has been marked by a roller coaster-like series of events with US President Donald Trump on March 22, threatening to “obliterate” Iran"s power plants if the Tehran government failed to reopen the Strait of Hormuz-where a substantial portion of the world"s supply of oil passes-in 48 hours. The following day, oil prices went down after Trump announced on Truth Social that he has ordered the postponement of military action against Iran, claiming the US and the Islamic republic had very good and productive conversations for a complete resolution of the conflict. Iran has since denied negotiating with US, calling it fake news. Please refresh the following article for updates on the Middle East conflict and its impact on global prices of oil.
REXSON PENEYRA
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The beginning of Week 4 of the conflict in the Middle East has been marked by a roller coaster-like series of events with US President Donald Trump on March 22, threatening to “obliterate” Iran"s power plants if the Tehran government failed to reopen the Strait of Hormuz-where a substantial portion of the world"s supply of oil passes-in 48 hours. The following day, oil prices went down after Trump announced on Truth Social that he has ordered the postponement of military action against Iran, claiming the US and the Islamic republic had very good and productive conversations for a complete resolution of the conflict. Iran has since denied negotiating with US, calling it fake news. Please refresh the following article for updates on the Middle East conflict and its impact on global prices of oil.
