$121 Oil Price Sparks Fears of Global Market Paralysis

The price of Azerbaijani oil has surpassed $121 per barrel, sparking concerns about global market stability. Political commentator Azad Masiyev attributes this rise to escalating military and political tensions worldwide, particularly regarding Iran.

Masiyev emphasizes that politics and economics are closely intertwined, with disruptions in one area affecting the other. He cites past examples of US control over energy resources, including during the Arab Spring and the recent situation in Venezuela.

According to Masiyev, US actions surrounding Iran are primarily aimed at weakening China economically by limiting its access to oil resources. The Strait of Hormuz is a crucial chokepoint, with a significant share of global oil trade passing through it. Control over this region could grant the US substantial influence over global energy markets.

Masiyev warns that any chaos emerging from these military operations could paralyze the global market, causing sharp fluctuations in prices on global exchanges. He also highlights tensions within the US and financial markets, noting that statements by heads of state can significantly impact stock exchanges.