A vessel in the Strait of Hormuz, seen from Musandam in Oman. Stringer / Reuters Oil prices rose 3% this Sunday (19) and reached their highest level since June. The price of a Brent barrel exceeded U$D 90 (around R$ 460.53) at the opening of trading markets. On Friday (17), a barrel of Brent, the international reference for the commodity, advanced 2.86%, and was quoted at US$86.64. As a result, it had accumulated gains of more than 13% in the week up to that point and was on track to record the biggest weekly increase since April, when commodity prices rose 16.5% in the week ending April 24. ?? Do you have any reporting suggestions? Send to g1 West Texas Intermediate (WTI), from the United States, rose 3.15%, to US$ 81.44 per barrel. During the week, the contract accumulated gains of 12.4% until Friday.
Oil soars and reaches highest price since June
A vessel in the Strait of Hormuz, seen from Musandam in Oman. Stringer / Reuters Oil prices rose 3% this Sunday (19) and reached their highest level since June. The price of a Brent barrel exceeded U$D 90 (around R$...
Prices are driven by fears about traffic in the Strait of Hormuz, a strategic route through which around 20% of the oil traded in the world passes. The passage was blocked by Iran in retaliation for attacks carried out by the US in recent days. Amid escalating tensions, American President Donald Trump also reimposed restrictions on Iranian vessels using the strait. This Sunday, the Central Command of the US Armed Forces (Centcom) announced a new wave of attacks against Iran, for the ninth consecutive day. The attacks come after the deaths of three American soldiers in the conflict in recent days. Also on Sunday, two oil tankers exploded while crossing the canal. According to Iran's Revolutionary Guards, two ships were involved in an "accident" and two others gave up on crossing the route. According to The New York Times, the US has started sending more warplanes to the Middle East. This indicates that the conflict may soon intensify. This escalation comes after two American soldiers died in an Iranian attack on a US base in Jordan, Centcom said Saturday (18). The deaths would have occurred on Friday (17). On Saturday, a third soldier died in northern Iraq after the controlled detonation of an unexploded munition. Previously, Trump even considered charging a 20% toll on cargo carried by ships traveling through the strait, but retreated and said he would seek trade and investment agreements with "several countries" in the Persian Gulf. The escalation of the conflict has once again increased concerns about possible impacts on global oil supply, at a time of reduced stocks and high demand. Investors' fear is that the rise in oil prices will continue to put pressure on fuel prices and contribute to an acceleration in global inflation, with repercussions on interest rates and economic growth in several countries.
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