Escalating Tensions in the Middle East and Their Impact on Oil Markets
June 12, 2025
The situation in the Middle East is escalating, with the U.S. withdrawing staff from its embassy in Baghdad due to rising tensions with Iran. Donald Trump expresses doubts about the possibility of reaching a deal regarding Iran's nuclear program, emphasizing that military action is not off the table. This uncertainty has led to a surge in oil prices, which have surpassed $69 a barrel. Diplomacy appears to be at a standstill as Tehran rejects proposals for an agreement.