Renowned economist Jad Hariri has stated that oil prices are likely to continue their upward trajectory amid growing fears of disruptions in global supply chains. These concerns stem from ongoing geopolitical tensions in the Middle East. Hariri, speaking on the program “Numbers and Markets” on “Azhari” TV, highlighted that markets are currently experiencing heightened anxiety due to dwindling oil supplies. This has driven prices of Brent crude and West Texas Intermediate to rise, with expectations of further momentum for energy stocks.
Hariri also discussed the state of digital currencies, noting that a market correction is “inevitable” following strong upward trends. This comes as investors shift towards safer assets and reduce their appetite for risk. He pointed out that geopolitical and economic uncertainty is affecting market sentiment, prompting major investment funds to rebalance their portfolios by moving significant liquidity into gold, the Swiss franc, and the Japanese yen.
Furthermore, Hariri emphasized that ongoing tensions could increase inflation expectations, which may lead to higher interest rates being maintained for longer than anticipated.
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