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The Lower Oil Price After Iran Announced the Reopening of the Ormuz Straits
39 Articles
39 Articles
The price of oil is at the lowest level since the U.S.-Israel attack on Iran began, after a 10% collapse this Friday. Iran’s full opening of the Strait of Ormuz announced in the framework of the truce agreed with the U.S., and conditioned on Israel’s ceasefire in Lebanon, has brought to a halt the news that was expected since the Tehran-Washington truce was announced last week. Although there is still no peace agreement and Donald Trump has anno…
With the reopening of the Strait Brent and Wti have lost in one day about 10%. Investors return to bet on the most risky assets like cryptocurrencies.
The fall in commodity prices led investors to price in milder inflation in Brazil and, consequently, more room for the Central Bank to continue with the cycle of cuts to the Selic rate.
Texas intermediate oil fell 11.45 percent, to $83.85 a barrel, after Iranian Foreign Minister Abás Araqchi announced the reopening of the Strait of Ormuz.
Oil prices sank this Friday, after Iran’s foreign minister claimed that the passage through the Strait of Ormuz for all merchant ships would remain open for the rest of the ceasefire period, Reuters reported. The crude oil was also pressed after President Donald Trump said that Iran had pledged not to close the strait again. The futures of U.S. Middle West Texas crude dropped $10.84, or 11.45%, to $83.85 per barrel, after having touched a minimu…
Also this Friday, Donald Trump said a deal with Iran is 'very close'
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