The world fuel market has started to adjust slightly, but what will happen tomorrow - no one knows. Iran's energy infrastructure, which is currently being affected, is only for domestic needs. The capacities with which Iran exports oil are not currently affected. This is the reason the market has stabilized.
This was stated on the show "Denyat na Zievo" on NOVA NEWS by Svetoslav Benchev, chairman of the "Bulgarian Oil and Gas Association" (BPGA), who commented on the ongoing exchange of blows between Israel and Iran and how this will affect the price of oil.
"The big problem is what will happen if the sea transport of oil products is affected. If Iran closes the Strait of Hormuz, the panic in the fuel market will be great. I do not want to predict prices, but such a closure could lead to an increase in oil by 20-25 dollars. Let's not speculate, because we do not know what will happen. Let's remain optimistic and with one thing in mind. Iran has fast boats with which it can lay mines in the Strait of Hormuz. This will make it as difficult as possible to clear the Strait, but I say again - let's see and not speculate," he urged.
"If the US really imposes sanctions on Russia for oil, this could also lead to an increase in the price of oil. For me, these sanctions will be postponed because Trump will not want high oil prices. "After all, this is one of his favorite topics - the low price of oil. This means that we here in Europe will not feel a significant increase in price," predicts Svetoslav Benchev.