The President of the Federal Central Bank of Germany Bundesbank Joachim Nagel warned today of the dangers of a oil crisis due to the conflict between Israel and Iran, while demanding that monetary policy be loosened in the eurozone, despite the fact that it was 2%. The consequences of the attacks between the two countries, which intensified over the weekend, “remain uncertain” while a prolonged conflict “could cause a strong rise in oil” and “overturn our forecasts” on inflation and growth, Nagel said. Oil prices raised a limited rise early this morning, after up to 13% on Friday, when the first Israeli blows against Iran had taken place. Around 10:20 (Greek time), the price of US WTI barrel rose 1.15%to $ 73.82, and that of the North Sea Brent barrel increased by $ 0.99%to $ 74.97. […]
Source: News Beast
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