The Lack of Agreement on the Strait of Ormuz Makes Oil Leap
5 Articles
5 Articles
The impasse over the reopening of the Strait of Ormuz – an important seaway for the flow of oil production from the countries of the Persian Gulf – weighed on the energy market this week, leading future oil contracts to close the period with gains above 5% in the period. Without further developments in the diplomatic agenda, prices displayed moderate high on Friday (14), with new economic threats from the United States to Iran and attacks by the…
The blocked Strait of Ormuz increases energy prices in Spain. The crisis between the United States and Iran entered a more rigid phase this week after the 60-day deadline for an agreement that had to reopen the world’s main oil highway. Tension does not remain in the Middle East. When a road that used to circulate one-fifth of the oil and gas traded on the planet remains closed, international prices go up and the Spanish energy bill notices it o…
Crude oil futures prices rebounded on the New York Mercantile Exchange on the 14th, with the benchmark West Texas Intermediate (WTI) September delivery closing at $82.40 per barrel, up $1.15 from the previous day.
The resurgence of hostility between the United States and Iran, which fails to reach an agreement, has made the prices of the barrel of crude oil blaze. Washington is threatening Tehran with unprecedented economic isolation measures.
The closure of the Strait of Ormuz could exhaust the reserves of crude oil By Redacción de Sin Comillas The oil reserves could gradually run out if the closure of the Strait of Ormuz is prolonged, according to the forecasts of the International Energy Agency (IEA) published in its latest monthly report.With the minimum reserves, the price of oil could rise in the coming months above $120 per barrel, being able to reach even peaks above $140.
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