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Oil price goes up due to war in the Middle East

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The price for oil goes up a lot. One barrel of oil costs more than 100 dollar now. This happens for the first time since July. The reason is the war between USA and Iran. Both sides attack each other. The fights often take place on the sea.

The military of USA destroys 5 ships from Iran. These ships carry oil. Iran answers with rockets. These rockets fly towards Jordan. The army of Jordan stops many rockets. No person gets hurt. Iran also attacks ships in the gulf.

The fights are near the Strait of Hormuz. This is a narrow path in the sea. Many ships bring oil past this place. If the path is closed, oil is missing. Then oil gets more expensive in the world. Also the prices for gas go up.

Experts worry about the economy. When oil is expensive, all prices go up. This means inflation. Then petrol costs more at the gas station. Also heating of homes gets more expensive. This causes trouble for many people and companies.

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Definitions

Inflation
Inflation means money loses value. Things get more expensive. You get less for the same money.

Locations

Iran
Iran is a country in the Middle East. It has a conflict with USA.
USA
USA are the United States of America. They are a big power.
Jordanien
Jordan is a neighbor country in the region. It stops rockets from Iran.
Straße von Hormus
The Strait of Hormuz is a very important water way for oil transport.

Sources

Logo Bild
Bild

Ölpreis über 100 Dollar: Werden Benzin und Diesel jetzt teurer?

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Logo Die Presse
Die Presse

Angriffe im Nahen Osten treiben Preise für Öl und Gas in die Höhe

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Logo ZDFheute
ZDFheute

Iran-Krieg: Angriffe auf Tanker treiben Ölpreis auf 100 Dollar

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Logo Standard
Standard

Ölpreis wieder über 100 Dollar, Gaspreis kratzt an 80-Euro-Marke

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Logo FAZ
FAZ

Liveblog Irankrieg: Ölpreis steigt auf über 100 Dollar wegen neuer Eskalation zwischen USA und Iran | FAZ

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Logo The Guardian
The Guardian

Oil prices rise above $100 a barrel for first time since July as Iran war escalates

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la Repubblica

Le Borse oggi 9 settembre. Il petrolio corre oltre i 100 dollari, gas ai massimi dal 2022

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