Potential Impact of Middle East Crisis on Global Oil Supplies and Prices

Mideast crisis may disrupt oil supplies, raise prices<br /><br />The current Middle East crisis, amid the Israel-Hamas conflict, may disrupt global oil supplies and lead to higher oil prices. However, experts believe it won't lead to a repeat of the severe price hikes and long gasoline lines seen during the 1973 Arab oil embargo. This situation adds to existing oil market volatility due to production cutbacks by Saudi Arabia and Russia, as well as increased demand from China, potentially impacting inflation and affecting developing countries reliant on oil imports.<br /><br />PHOTOS BY AP<br /><br />Subscribe to The Manila Times Channel - https://tmt.ph/YTSubscribe <br /><br /><br />Visit our website at https://www.manilatimes.net <br /><br /><br />Follow us: <br />Facebook - https://tmt.ph/facebook <br />Instagram - https://tmt.ph/instagram <br />Twitter - https://tmt.ph/twitter <br />DailyMotion - https://tmt.ph/dailymotion <br /><br /><br />Subscribe to our Digital Edition - https://tmt.ph/digital <br /><br /><br />Check out our Podcasts: <br />Spotify - https://tmt.ph/spotify <br />Apple Podcasts - https://tmt.ph/applepodcasts <br />Amazon Music - https://tmt.ph/amazonmusic <br />Deezer: https://tmt.ph/deezer <br />Stitcher: https://tmt.ph/stitcher<br />Tune In: https://tmt.ph/tunein<br /><br />#themanilatimes<br />#tmtnews<br />#middleeast <br />#oil <br />#inflation