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US Iran Tension Extremely Likely To Escalate Into Something Very Big

Many analysts are speculating that the tension which is rising between Iran and US can lead to something bigger than expected. Last week Tehran and Washington were too close and on the verge of war after Iranian government claimed that it has shot down US drone which was flying in its air space. Contrary to this, officials of the American government claimed that the drone was flying in international airspace.

Recently, Fereidun Fesharaki stated that it is very essential to remember that Iran holds a tag of regional superpower and it is highly unlikely that the Country would get subdued by the American government. He also said that in the future there is a chance that Iran may attack on the US, thus escalating tensions to a new height.

On June 20, 2019, President Donald Trump ordered the military to strike on several Iranian targets but called of the mission right away. Due to high tension between Iran and America increased the oil prices. US registered a hike in crude prices by 9%, moreover Brent cashed a gain of 5%. Many investors believe that due to attack on Iran, the oil supply could suffer on a large scale.

While having a conversation with the press, Fereidun Fesharaki said that at present there is a hike of up to $2 on every oil barrel, if America had struck Iran, as per their plan then the hike on every oil barrel may be around $5–10 per barrel.

At present, US is planning to send its military to Iran and it is trying to blacklist the Revolutionary Guards of Iran as a terror group. Previously, America had accused Iran for attacking its oil tankers near the Gulf of Oman, contrary to this Iranian government had denied such charges.

In the past, the Iranian government has also stated that it might make Strait of Hormuz inaccessible. This is considered as an essential waterway around the globe that links Middle East to every other economy of the world.

Elma Jackson
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Managing Editor At Business Global 24

With more than 8 years of experience in the news publishing sector, Elma has a Master’s Degree in Finance as well as Business. It is this know-how that she has which makes Elma the ultimate dominator when it comes to authoring Business & Finance articles. Besides this, in her free time, Elma loves to listen to music at the local coffee shop and have a sip of coffee.

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