Azernews.Az

The Israel-Hamas conflict has revived concerns about a sharp rise in oil prices. While the war has not escalated into a full-scale regional conflict, oil prices have surged by nearly 10%, reaching $78 per barrel. Analysts are also keeping a close eye on Iran’s activity, with some attributing the price surge to the country’s involvement. With Azerbaijan’s 2025 budget planning for oil revenues based on a $70-per-barrel forecast, the question arises: How will geopolitical tensions affect oil markets and Azerbaijan’s economy? Azernews consulted several prominent experts to analyze the developments.

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