Brent type oil barrel is at $112 in the fourth week of the Iranian war
The armed conflict in the Middle East continues to affect the price of energy. Since this morning, the price of crude oil has been unbiased, reaching a maximum of $114 and a minimum of $110.22.
Oil extraction process.
The brent oil barrel for delivery in May is at $112 this Monday, almost unchanged, in the fourth week of the USand Israelwar against Iran.
Specifically, the reference crude oil brentin Europehas risen 0.21% to $112.42. This morning, crude oil has been trading unbiased, with a maximum of more than $114 and a minimum of $110.22.
That being the case,the armed conflict in the Middle East is still having a direct impact on the price of energy.
U.S. PresidentDonald Trump gaveIran 48 hours to "fully open" the Strait of Hormuz , or warned of an attack on power plants.
The Iranian Revolutionary Guard has denied that Tehran will attack power stations in the region, but has assured that if theUS attacks the Islamic Republic's facilities , it will respond "in the same way."
If Washington fulfils its threat, "Iran will respond, "the Revolutionary Guard said.
Meanwhile, theexecutive director of the International Energy Agency (AIE), Fatih Birol , has assured us that the situation is "very serious" and that the current uncertainty already surpasses theenergy crisis ofthe 1970s , in a context marked by the blockade of the Strait of Hormuz and the attacks on power plants in the Middle East.
US-reference Texas oil (WTI) 0.78% will rise this Monday to $112.81 before the market officially opens in the US.
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