Summary:
The rise
in oil prices poses an eminent danger to the world's economy. The cost of Brent
crude rose due to panic. The last few recessions were due to rise in oil prices
mainly caused by disputes in the Middle East. The unrest is due to
Iran wanting to harness nuclear warfare and this was unwelcomed by Israel
and US. The constant attacks on Israeli's Embassies had also caused fury among Israel and US. A military attack on Iran can severely cause a surge in oil prices and result
in a probable global recession.
(^)Rise in oil prices poses an eminent danger to the world's economy. (^)Cost of Brent crude rose due to panic. The last few (^)recessions were due to rise in oil cost and were mainly caused by problems in the Middle East. The unrest(Which unrest??) is due to Iran wanting to harness nuclear warfare and this was(Tense) unwelcomed by Israel and US. The constant attacks on Israeli's Embassies has also caused fury among Israel and US. A military attack on Iran can severely surge(wrong word) oil prices and result in a probable global recession.
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