11:47 pm - Friday October 24, 2014

Saudi Arabia and Oman unrest may further advance oil prices around the world

Asia Bizz: Oil prices are touching $100 a barrel around world as the unrest situation in Saudi Arabia and Oman are ensuring the rise in the oil prices in the near future. Major stock markets around the world did suffer a bit from the rising fuel prices, but at large the market has gained a lot since a couple of months.

Clashes in Oman have taken place on a violent level and there are six people who are reported to have been killed. There is fear among all the major upcoming nations, as there are conflicts in all oil producing giants in the Middle East. The worse can take place when there is lethal interruption in the oil supply from Saudi Arabia.

Saudi Arabia has the largest oil reserves in the world, and oil from the nation is exported to all large countries in Asia. Keeping the US apart, China, India and Japan will be the worst hit countries if the oil prices shoot up.

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