Oil Prices Are on the Rise: Middle East and Ukraine Tensions Increase

Oil prices started Monday with an increase. Brent oil, which fell to 70 dollars in July, turned its eyes upwards again with the closure of Hormuz and the increase in tensions. Brent oil price per barrel is trading above $90 as of Monday morning.

3 US soldiers lost their lives

In the latest developments, a total of 3 US soldiers lost their lives. Trump said that they would respond harshly to Iran for what happened. US Central Command also announced that Iran operations continued for the 9th day in a row as of last night.

Iran's targeting of the Gulf countries, especially Kuwait, and its hitting of water purification facilities and critical points in US bases have further reduced the chances of peace in the short term.

A big blow to Russia

What happened over the weekend wasn't just about the Gulf region. The war between Russia and Ukraine is experiencing one of its most tense periods. In the war that has been going on for more than 4 years, Ukraine hit one of Russia's largest logistics centers with dozens of "UAVs" over the weekend.

The response to the attacks carried out on Saturday was heavy. Russia has carried out one of its biggest attacks so far. Attacks using ballistic missiles also targeted logistics centers.

While all this is happening, it is noteworthy that Bitcoin does not lose its "defense line" of $ 60 thousand. Especially in these days when the interest rate decisions of the Bank of Japan and the Fed are approaching, Bitcoin continues to be traded above 64 thousand dollars.

The largest cryptocurrency last fell to 58 thousand dollars on June 30, for the first time in about 2 years.