Reuters reported on the crisis in the oil market due to the situation in the Middle East

The US and Israeli strikes on Iran have plunged the oil market into the largest crisis in recent decades, and if the conflict does not stop, oil prices will rise sharply on March 2. This opinion was expressed by Ron Bousso, a Reuters energy columnist.

"Even in the absence of a worst—case scenario, the conflict is already capable of disrupting vital energy supplies from the Middle East in a way that has not been seen in decades," Bousso said.

According to him, the scale of oil supply disruptions and rising prices will depend on the duration of the conflict in Iran.

Stockshake: what will happen to global markets amid the crisis in the Middle East

Trading will open on Monday, but you can evaluate the prospects now.

The day before, the Strait of Hormuz in southern Iran, which is used for the passage of oil tankers, was completely closed by the Islamic Revolutionary Guard Corps (IRGC). Some major oil companies and leading trading houses have suspended the supply of crude oil and fuel through the Strait of Hormuz amid Israeli and US strikes on Iran.

On February 28, the United States announced the start of a large-scale military operation with Israel against Iran. The Israeli and American military attacked the republic, including a school in the city of Minab. According to Iran's permanent representative to the United Nations, Amir Saeed Iravani, more than 100 children were killed as a result of an attack by Israel and the United States on an educational institution.

In response, Tehran has fired missiles and drones at American military bases located in the Middle East. Explosions also occurred in Abu Dhabi and Dubai.

Russia's permanent Representative to the UN, Vasily Nebenzia, said on February 28 that the aggression directed by the United States and Israel against Iran has already led to an aggravation of the situation in the region and may go beyond its borders. The diplomat stressed that the actions of Washington and Tel Aviv risk turning into a humanitarian and economic catastrophe.

All important news is on the Izvestia channel in the MAX messenger.