Global oil prices drop again below $100 after a large increase

The price of crude oil Brant, the global market standard, reached over $100 on Thursday and has increased 33% this month, as the 60-day ceasefire between the United States and Iran has almost collapsed.

On Friday, Brant oil contracts fell by 2.8% and were traded about 98 dollars per barrel in the early morning hours according to US times, while American oil W You dropped 2.3% to about $90 per barrel. However, both contracts are expected to close the week with considerable growth.

Oil markets are concerned that the Iranian-based and Yemen-based Houth militants attacked Saudi tanks in the Red Sea, threatening to close an alternative route for Saudi oil exports, while the passage through the Hormuz Strait is again stumbling.

However, according to data from MarineTraff, two tankers carrying Saudi gross oil passed Thursday through the Bab al-Mandeb Strait, writes CNN.