Oil Rubs $100 and Ormuz Reboots World Alarms
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The uncertainty surrounding the war in the Middle East, with cross-attacks between Iran and the U.S., further alienated possible peace negotiations. Moreover, transit through the Strait of Ormuz was considerably reduced and the price of oil rose again this Monday. Tehran also reported that there will be a "new restricted zone."...
New attacks involving the US and Iran raise risk on strategic route; Opep+ maintains production in October
The price of oil rose again this Monday, driven by new attacks on oil tankers and the deterioration of maritime transport in the Middle East, in the midst of the war between the United States and Iran. Brent’s barrel was quoted at US$97,28, with a 1.04% advance, approaching again the psychological barrier of [...] Brent’s entry touches the US$100 after attacks on oil tankers and growing tension in the Strait of Ormuz was first published in El Pe…
International oil prices are rising again and are approaching US$100 this Monday, given the persistence of attacks between the United States and Iran and the insecurity of passage through the Strait of Ormuz. Brent, a reference for Europe, advances during this day 1.00%, contributing to 96.76 dollars per barrel, while West Texas crude oil [...]
Brent advanced this Monday above US$97 per barrel and the WTI exceeded US$92, driven by the resumption of attacks between the United States and Iran and by the increasing risk of shipping in the Strait of Hormuz. Tehran announced that it will establish a new restricted zone in the Gulf, while the transit of oil vessels fell to its lowest levels since May and analysts already project a scenario of up to US$120 per barrel if the escalation continu…
Brent is approaching $100 as boat attacks reduce traffic across the Strait of Ormuz and raise the fear of a supply shock.
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