Business
Oil prices likely to stay above $100 amid Middle East conflict
The ongoing Middle East conflict and shipping disruptions continue to impact global crude oil prices.
W.carter / CC BY-SA 4.0, via Wikimedia Commons
MarketWatch reported that the oil market may soon stabilize enough to fully assess the impact of the ongoing conflict in the Middle East, which has lasted eight months.
The conflict and related shipping disruptions have caused significant turmoil in the global crude oil sector, keeping prices elevated.
According to MarketWatch, the $100 per barrel price level is expected to hold for some time, indicating that oil prices are unlikely to drop soon despite any developments in the Gulf region.
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