Homayun Falakshahi, an energy expert at the Kepler Institute, said that much of the recent increase in the price of oil is due to concerns about a new round of military clashes between the Islamic Republic and the United States. According to him, the main crisis in the global energy market at present is a shortage of diesel fuel, not crude oil, and if oil exports from the Persian Gulf continue, the crude oil market may even face a surplus.

Falakshahi added that the rise in oil prices, by increasing inflation and putting pressure on U.S. financial markets, creates a significant economic and political cost for President Donald Trump’s administration. In his view, the price of oil will be one of the key factors in Washington’s calculations regarding a possible military action against the Islamic Republic.