Oil Price Drop: Inflation Concerns Slow Down Prices

Oil prices fell on Friday morning due to concerns that accelerating inflation could curb global oil demand, despite high geopolitical risks due to ongoing reciprocal attacks between the US and Iran. However, it is expected that oil prices will rise on a weekly basis due to increased geopolitical tensions.

Market Situation

The price of Brent oil dropped by 0.08% to $76.24 per barrel, while US crude oil (WTI) lost 0.06% in value and was traded at $72.04.

■Brent oil is expected to rise by approximately 6%,

■WTI by 5% on a weekly basis.

Geopolitical Tensions

Iran's military launched attacks on US military bases and infrastructure in Gulf countries on Thursday in retaliation for US attacks on Iran's southern and eastern regions. These developments have increased concerns about the future of the ceasefire, which has been in place for about three weeks.

Expert Assessment

Markets have positively evaluated the fact that the US has avoided directly targeting Iran's energy infrastructure, despite increasing its attacks on military targets in Iran. This expectation is also supported by President Donald Trump's statements that he does not expect a full-scale conflict to resume.