Den Offentlige published a report that addressed the major repercussions of the ongoing war and its impact on global energy markets, especially oil prices, which have seen a sharp rise since the outbreak of the war. The report also answered the question of whether the era of cheap oil has ended, as shown in the last paragraph of this article. <\/p>\n\n\n\n
Oil prices have risen sharply since the outbreak of the war.<\/strong><\/p>\n\n\n\n The report explained that crude oil prices have risen significantly since the beginning of the war between the United States, Israel and Iran, as energy markets have been under strong pressure leading to large price jumps, especially in the oil market, which has been directly affected by geopolitical tensions.<\/p>\n\n\n\n Near-total paralysis in the Strait of Hormuz and its global impact<\/strong><\/p>\n\n\n\n The report indicated that the Strait of Hormuz, through which approximately 20 million barrels of oil pass daily\u2014equivalent to about 20 percent of global consumption of liquid petroleum products\u2014experienced a significant decline in traffic, almost to the point of complete paralysis. According to the International Energy Agency (IEA), this situation caused the most severe disruption to oil supplies in the market's history.<\/p>\n\n\n\n Questions arise about the possibility of the market returning to its previous state.<\/strong><\/p>\n\n\n\n The report raised a pivotal question about whether oil markets could return to their pre-war levels, given the continued instability and tensions affecting global supplies.<\/p>\n\n\n\n Brent crude prices surge after attacks<\/strong><\/p>\n\n\n\n The U.S. Energy Information Administration (EIA), the analytical arm of the U.S. Department of Energy, reported that Brent crude prices rose significantly following the February 28 military attacks and the subsequent closure of the Strait of Hormuz. The International Energy Agency (IEA) also reported that Brent crude averaged around $92 per barrel in March, an increase of nearly $20 compared to the previous month.<\/p>\n\n\n\n Peak expected in 2026, risks persist<\/strong><\/p>\n\n\n\n The Energy Information Administration (EIA) projected that Brent crude oil prices would peak at around $115 per barrel during the second quarter of 2026 before beginning to decline. However, it also emphasized that prices would remain influenced by what is known as a "risk premium," an additional cost reflecting market uncertainty.<\/p>\n\n\n\n Effects extend beyond gas stations<\/strong><\/p>\n\n\n\n The report emphasized that the impact of the oil price shock extends beyond fuel alone, reaching broad sectors such as transportation, fertilizers, plastics, and chemicals, in addition to numerous other industrial products. It explained that rising energy prices are quickly reflected in the costs of producing food, construction, and everyday consumer goods.<\/p>\n\n\n\n Additional costs due to supply disruption<\/strong><\/p>\n\n\n\n The report indicated that increasing supply instability leads to higher storage, insurance, and alternative transportation costs, meaning that the problem is not just a temporary shortage, but a new reality of high long-term energy security costs.<\/p>\n\n\n\n Is the era of cheap oil over?<\/strong><\/p>\n\n\n\n Despite these developments, the report clarified that it is too early to conclude that the era of \u201ccheap oil\u201d is over, as both the International Energy Agency (IEA) and the Energy Information Administration (EIA) believe that prices could fall again if the conflict subsides and shipping traffic in the Strait of Hormuz returns to normal.<\/p>\n\n\n\n However, both institutions stressed that uncertainty will maintain the risk premium in the market even after the immediate crisis ends, meaning that prices may not easily return fully to their previous levels.<\/p>\n\n\n\n <\/p>","protected":false},"excerpt":{"rendered":" \u0646\u0634\u0631 \u0645\u0648\u0642\u0639 Den Offentlige \u062a\u0642\u0631\u064a\u0631\u0627\u064b \u062a\u0646\u0627\u0648\u0644 \u0641\u064a\u0647 \u0627\u0644\u062a\u062f\u0627\u0639\u064a\u0627\u062a \u0627\u0644\u0643\u0628\u064a\u0631\u0629 \u0644\u0644\u062d\u0631\u0628 \u0627\u0644\u062f\u0627\u0626\u0631\u0629 \u0648\u062a\u0623\u062b\u064a\u0631\u0647\u0627 \u0639\u0644\u0649 \u0623\u0633\u0648\u0627\u0642 \u0627\u0644\u0637\u0627\u0642\u0629 \u0627\u0644\u0639\u0627\u0644\u0645\u064a\u0629\u060c \u062e\u0627\u0635\u0629 \u0623\u0633\u0639\u0627\u0631 \u0627\u0644\u0646\u0641\u0637 \u0627\u0644\u062a\u064a \u0634\u0647\u062f\u062a \u0627\u0631\u062a\u0641\u0627\u0639\u0627\u064b \u062d\u0627\u062f\u0627\u064b \u0645\u0646\u0630 \u0627\u0646\u062f\u0644\u0627\u0639 \u0627\u0644\u062d\u0631\u0628\u060c 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