Trump Warns of Escalating Middle East Tensions, International Oil Prices Fluctuate

The warning from U.S. President Trump has intensified tensions in the Middle East, causing sharp fluctuations in international oil prices. This has brought new uncertainty to the entire energy market, with prices initially soaring then falling back.

As of the morning of the 23rd Korea time, Brent crude futures rose 1.9% from the previous day to $114.35 per barrel, but later dropped to $111.96. U.S. West Texas Intermediate (WTI) also saw a significant increase, reaching $101.50 per barrel at one point, then falling to $98.20. The price volatility is driven by President Trump’s warning about the Iran blockade of the Strait of Hormuz.

The importance of the Strait of Hormuz cannot be overstated. About 20% of global oil trade passes through this route. If it were blocked, it could cause serious disruptions to the energy supply chain. Iran has also responded with warnings of a complete blockade, hinting at strong measures. As geopolitical risks increase, the gap between Brent and WTI prices is widening, especially with Brent, which is more sensitive to maritime supply chains, experiencing a larger price increase.

Goldman Sachs, an international investment bank, has reflected this situation by raising its annual average price forecasts for both Brent and WTI. Goldman expects the Strait of Hormuz to remain open at around 95% of normal capacity and suggests that supply shortages could worsen during the upcoming summer in the Northern Hemisphere.

Meanwhile, the international gold market has also seen a decline due to the recent surge in oil prices. Gold prices have fallen sharply, indicating investor unease and a move to sell gold for cash. If this trend continues, energy and financial markets are likely to experience ongoing volatility. The development of the Middle East situation will have a significant impact on both oil and gold prices.