An economic expert is betting on the stability of oil prices on this matter

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An economic expert is betting on the stability of oil prices on this matter

On Monday, economic expert Safwan Qusay highlighted the ongoing increase in global oil prices and the prices of shipping and transporting goods and commodities. This is due to the tension in the Red Sea. Qusay emphasized the need to put an end to the war against the Palestinian people and to exert international pressure to alleviate their suffering. This will ensure the smooth continuation of trade through the Red Sea.

Qusay mentioned that there has been a significant increase in oil prices, especially due to the tense situation in the Red Sea. This situation may adversely affect the oil consumers as the current events are intended to support the Palestinian people in their struggle against the injustice they are facing.

He stated that the countries producing oil won’t benefit from the increase in oil prices as they also consume many goods, and higher transportation costs will offset the gains.

“He stated that the process of ensuring navigation in the Red Sea and its return to its former state requires the international community to exert pressure to stop the war imposed on the Palestinian people. This is because it is necessary to highlight the extent of the injustice and persecution that the Palestinian people are being exposed to.”