5 hours agoCrisis continues, oil prices rise again
Periskopi(3 months ago)
(3 months ago)Oil prices rose Sunday after the United States announced it would impose a blockade on Iranian ports starting Monday. The price of gross American oil rose by eight percent to $104.24 per barrel, while Brent, the international reference price, increased seven percent to 102,229. Oil [...]
Oil prices rose Sunday after the United States announced it would impose a blockade on Iranian ports starting Monday.
The price of gross American oil rose by eight percent to $104.24 per barrel, while Brent, the international reference price, increased seven percent to 102,229.
Brent oil has suffered significant fluctuations during the war in Iran, rising from about $70 per barrel before the war explosion in late February to more than $1 119 at certain times.
Iran effectively controlled Hormuz Strait, a key maritime route for global oil transport.
The US Central Command said blockades to ships in Iranian ports will be implemented impartially against ships of all nations” that enter or depart from the ports of the Islamic Republic, as well as from Iranian coastal areas, including all Iranian ports in the Persian Gulf and Oman Bay.
They claimed that ships sailing from non-Iranian ports would continue to be allowed to pass through the Strait of Hormuz.
About a fifth of the world's oil trade usually passes through the Strait of Hormuz every day. Saudi Arabia, Iraq, the United Arab Emirates, Kuwait and Iran are among the biggest exporters.
