Global oil prices rose again

Global oil prices rose again

Global oil prices rose again, as concerns mount as to whether the fragile ceasefire between the United States and Iran stays, as Israel launched a wave of attacks on Lebanon. The raw inside oil rose by about 4% in the stock exchange, reaching more than 98 dollars per barrel Thursday. Prices [...]

Global oil prices rose again, as concerns mount as to whether the fragile ceasefire between the United States and Iran stays, as Israel launched a wave of attacks on Lebanon. The raw inside oil rose by about 4% in the stock exchange, reaching more than 98 dollars per barrel Thursday.

Oil prices dropped significantly Wednesday, with 13% after the deal was announced to stop the conflict, which included reopening the main Hormuz Strait waterway.

But reports that Iran will keep the crucial route of shipping closed due to Israeli attacks have revived fears of a prolonged blackout of power supply.

One of the terms of the truce agreement was that ships would be able to use the Strait of Hormuz safely. However, ships in the Persian Gulf have received a warning from Iran's navy that if they cross without permission, they will be targeted and destroyed.

Only a small number of ships managed to cross the waterway when the agreement was announced, mostly below the 130-ship level passing cc every day before the war.

According to maritime tracking companies, even in the best scenario it will take weeks to move blocked gas and oil loads and some of me for global trade to get closer to pre-crisis levels.

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