Israel-Ukraine War/ Oil prices increase significantly in international markets, also reflected in Albania

The price of oil on international markets has increased significantly, surpassing the threshold of $77 per barrel for Brent crude oil - the highest level since January of this year.

According to Reuters, the main reason is the escalation of tensions between Israel and Iran, which have increased fears of supply disruptions in the Gulf of Hormuz - one of the most important routes for global oil exports.

Meanwhile, Bloomberg reports that markets are facing a combination of factors: not only the conflict in the Middle East, but also expectations of limited intervention by the Federal Reserve in lowering interest rates, which is keeping demand for fuels strong.

In addition, the US Strategic Petroleum Reserve has suffered a larger-than-expected drawdown, putting additional pressure on supply. At the same time, OPEC+ continues to keep production in check, limiting its capacity to stabilize prices if tensions escalate further.

The consequences of this movement have not been absent in Albania either. In just a few days, the price of diesel at gas stations has increased by 3 to 5 lekë per liter. At some supply points in Tirana, Durrës or Fier, a liter of diesel is now sold for over 180 lekë.

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