Government creates working group to monitor oil prices in the face of conflict in the Middle East

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Conflict in the region intensified over the weekend, after Iran entered directly into the conflict with Israel. Government expects Petrobras to wait for developments before changing fuel prices. Possible worsening of the crisis between Israel and Iran has planetary consequences The Ministry of Mines and Energy created, this Monday (15), a working group to monitor the price of oil in light of the conflict in the Middle East. The information was given by minister Alexandre Silveira, in an interview with journalists. “First, we held this meeting, we decided to create the working group. But I’m sure we will talk to Petrobras and members of the distribution market,” he said. Tension in the region intensified over the weekend after Iran entered directly into the conflict with Israel and sent drones and missiles to attack Israeli territory. The attack increases the risk of the war between Israel and Hamas escalating throughout the Middle East. The region accounts for a large portion of world oil production. And a widespread conflict could increase the price of the commodity, which influences the value of fuels in Brazil, such as gasoline and diesel oil. According to g1 columnist Valdo Cruz, the government expects Petrobras to wait for the next developments in the war before changing fuel prices in Brazil.

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