Brent's barrel went up 6.76 percent on Monday, but it went down and went down from $100
During the day, it's been around $120 a barrel, so G7 ministers have met and expressed their readiness to take action and release their reserves.
The price of a barrelof Brent oil for delivery in May has risen 6.76% this Monday as a result of the conflict in the Middle East. The market has fallen sharply throughout the day.
Brent oil, a reference in Europe, has reached more than $118 in the morning at the Intercontinental Exchange in London (ICE), reaching an unseen level since 2022, when Russia invaded Ukraine.
In the middle of the afternoon, the ministers of the G7 countries have shown their willingness to take "all necessary measures", including recourse to strategic reserves, and the price of Brenta has been losing strength. 98.96 has stagnated at market closure, but after the end of the trading dayit has suffered a further decline, to $84.50, and then stabilised around $90.
The reason for these latest moves has been US President Donald Trump's statements that the war with Iran is "almost over," and investors have breathed a little.
On the other hand, Texas intermediate oil (WTI) has also fallen on Monday and the barrel has fallen to $85, after exceeding $100 over the weekend. At the end of the session, prior to the US president's statements, WTI's contracts for delivery in April werearound $94.77 per barrel.
As a result of the war in the Middle East and the closure of the Strait of Hormuz, through which one fifth of the maritime fuel traffic passes, fear of a cut in supply has spread and is having a major impact on the price of black gold.
Trump himself has said in an interview with CBS that he plans to "take control" of the Strait of Hormuz. On the other hand, French President Emmanuel Macron has also announced that the international defense mission to gradually open Ormuz is underway.
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