Middle East alarm. And oil is flowing

The Middle East is once again inflaming the price of oil, which on Tuesday 2 April jumped by more than 1% to reach a new high since October.
Signs of a possible improvement in demand in China and the United States, the world's largest oil consumers, and above all growing concerns about an expanding conflict in the Middle East that could affect supply from the region have given a strong boost to prices Today.
WTI futures are up 1.92% above $85 a barrel and Brent contracts are signaling a jump of 1.78% to nearly $89 a barrel by mid-morning.
Oil then rose to a new five-month high.
Crude has risen 14% this year as production cuts by OPEC offset increased supply from outside the group.
OPEC+ is expected to affirm its current production policy at a review meeting scheduled for Wednesday, which would lead to a deficit until the end of the year.
Meanwhile, the mere potential possibility of Iran directly going to war in the Middle East has made black gold jump.
read also What happens to the oil market? Middle East War Effect on Rising Oil Prices In the Middle East, an Israeli attack on the Iranian embassy in Syria killed seven military advisers, including three senior commanders, marking an escalation in the war in Gaza between Israel and Hamas, backed from Iran.
The widening conflict could now materialize with Tehran pledging claims, thus raising concerns about the impact on oil supplies.
“To date, the market has not worried about supply disruptions as the war has remained contained.
Iran's involvement could jeopardize its oil supply,” analysts at ANZ wrote in a note.
read also War Israel Iran, what happens after the attack in Syria? “Bullish catalysts for oil prices continue to build, with stronger-than-expected economic conditions in China and the United States offering a more optimistic demand outlook, while geopolitical tensions in the Middle East continue to heat up as the Iran,” according to IG market strategist Yeap Jun Rong.
Finally, of note is the news that Mexico intends to stop supplying its flagship Maya crude oil to refineries in the United States, Europe and Asia, a move that would lead to further global tightening.
In this context, amid fears of a tightening and heightened tension in the Middle East, the price of oil has soared.