The market reacted sharply to the aggravation of the conflict between the United States and the Middle East

For the first time since September 2019, a barrel of Brent crude oil has exceeded the cost of $70, according to Forbes. At the moment, the price is $70.23, which is 2.38% more expensive than on the last trading day. A barrel of WTI crude oil rose in price by 2.06%, now it costs $64.35.

Gold is also becoming more expensive, the price for an ounce reached $1.579, which is 1.5% more costly. Over the past six years, this is its maximum price.

All this show a reaction of the economy to the conflict in the Middle East. Namely, the assassination of General Qasem Soleimani on the orders of US President Donald Trump. The White House and Tehran, due to the incident, began to make mutual threats.

Peter Dragisevich, an economic analyst at the Suncorp Group, expressed his dissatisfaction with what is happening. According to him, the market was just starting to hope for a resolution of trade wars, as the United States inflicted a new blow, thereby stirring up geopolitics.

The Iranian authorities noted that in spite of the attack, it doesn’t intend to stop limiting the nuclear deal and will fulfill the agreements in return of lifting the sanctions.

The parliament of Iraq voted to withdraw all foreign forces from its land.

Trump threatened to impose even greater sanctions. According to him, he spent too much money on the construction of an air base in Iraq to just leave this land.