Oil prices rose during trading on Tuesday after the IMF strengthened its forecasts for global growth this year, and the IMF expects growth of 3.1% this year, an increase of 0.2 percentage points from its forecast last October.
Markets are also waiting to see how the United States will respond to the attack on its military base in Jordan.
After the escalation in the Middle East, Biden said that the United States will hold those responsible accountable at the time and in the way we choose.
Defense Minister Lloyd Austin also said that the Biden administration will take all necessary measures to defend the United States, our troops and interests.
But National Security Council spokesman John Kirby played down the possibility of a direct confrontation between Iran and the United States, saying that we are not seeking a war with Iran and we are not looking to escalate tensions further than they were already escalating.
Iran has also denied any involvement in the attack.
The oil market's response to geopolitical tensions in the Middle East has been weak with this incident escalating, although analysts say that a conflict between the United States and Iran is the scenario that is likely to lead to higher prices.
It is worth mentioning that WTI has risen by 8.5%, as well as Brent crude by more than 7.5% this year so far.
Oil prices rose during trading on Tuesday after the International Monetary Fund strengthened its forecasts for global growth this year, and the IMF expects growth of 3.1% this year, an increase of 0.2 percentage points from its forecast last October. Markets are also waiting to see how the United States will respond to the attack on its military base in Jordan. After the escalation in the Middle East, Biden said that the United States will hold those responsible accountable at the time and in the way we choose. Defense Minister Lloyd Austin also said that the Biden administration will take all necessary measures to defend the United States, our troops and interests. But National Security Council spokesman John Kirby played down the possibility of a direct confrontation between Iran and the United States, saying that we are not seeking a war with Iran and we are not looking to escalate tensions further than they were already escalating. Iran has also denied any involvement in the attack. The oil market's response to geopolitical tensions in the Middle East has been weak with this incident escalating, although analysts say that a conflict between the United States and Iran is the scenario that is likely to lead to higher prices. It is worth mentioning that WTI has risen by 8.5%, as well as Brent crude by more than 7.5% this year so far.
