Crude Oil Prices Today: Crude oil prices again cross 100 dollars, high alert to cross 150 dollars!

Crude Oil Prices Today: Today, on March 26, once again an upward trend is being seen in the prices of crude oil. After increasing by 1.45% today, the price of Brent crude has reached $103.969 per barrel. US West Texas Intermediate (WTI) crude rose $1.08, or 1.2%, to $91.40 a barrel.

The reason for today’s rise is being said to be Iran’s rejection of the possibility of immediately reducing the conflict. There was a decline in crude oil prices after the claims of US President Donald Trump.

Trump had claimed that he was planning to hold peace talks with Iran. In response, Iran said that the US proposal to end the conflict is still under review.

Iran is reviewing

Iran’s Foreign Minister had said yesterday that Iran has no intention of joining peace talks right now. Meanwhile, US President Donald Trump has warned Iran that if it does not accept the US proposal, the US will further intensify its attacks against that country.

Iran has also revealed that the proposal sent by Trump includes demands like eliminating the uranium reserves within Iran, limiting its ballistic missile program and stopping uranium enrichment activities. Apart from this, demands like stopping the funding given to regional partners have also been put forward. As a result, Iran has refused to accept this US proposal.

What do the experts say?

According to Kainaat Chainwala of Kotak Securities, if tensions in the Middle East persist for a long time, oil prices could reach anywhere between $120 to $150 per barrel in the near future.

Nuwama Institutional Equities also believes that if the Strait of Hormuz remains closed for a long time, the world may face a crude oil supply crisis, due to which oil prices may rise to the range of $110 to $150 per barrel.

Road opened for friendly countries

Iran has kept the Strait of Hormuz closed. However, Iran’s Foreign Ministry has recently issued a statement clarifying that this route includes its friendly countries India, China, Russia, Iraq and Pakistan. Will be open for them.