On Sunday, oil expert Hamza Al-Jawahiri said that the Zionists’ targeting of Lebanon and occupied Palestine did not account for the rise in oil prices.
Al-Jawahiri stated, “In addition to the hurricane that hit the Gulf of Mexico, what is happening in Lebanon and Palestine will not be a reason to raise prices and bring them below $ 74.”
“The market situation will remain fluctuating between a slight rise and a slight fall, indicating that the political factor is controlling oil prices,” he said in addition.
As investors focused on expectations of increased production from Libya and the OPEC Plus alliance, oil prices experienced weekly declines.
West Texas Intermediate crude experienced weekly losses of 3.9%, while Brent crude experienced weekly losses of 3.3%.
