Oil

Trump's latest appearance has frustrated investors "hopes of a rapid end to the war. Wall Street has fallen 1.28% after Trump announced that he will continue to" harshly "attack Iran.

A summary, in two words, of what will be news in the Present today.

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.

The Basque Government believes that the reduction of the electricity bill will help families and the Basque industry, but it lacks specific measures for industrial companies that have suffered a double, tariff and energy shock over the past year.

According to jeltzales, these measures "will help make the final price of electricity and fuel more affordable for families and self-employed people." The abertzale coalition welcomes the fact that it has received three proposals sent to Sanchez, but criticizes that the measures will increase the profits of large energy and oil companies.

The Decree-Law will be adopted in Congress next Thursday and a detailed plan will be put on the table, structured in four areas: structural measures, a tax package, specific aid to affected sectors and assistance to vulnerable persons.

Compared to the December projections, theEuropean Central Bank (ECB) has warned that inflation will rise particularly this year due to the sharp rise in energy prices as a result of the Middle East war.

The conflict in the Middle East continues to plunge markets: Asian stock exchanges have fallen sharply, while Europeans expect negative openings, pending the meeting of the European Council.

The president reiterated that his administration is in talks with the Cuban authorities and explained that the island is "a failed nation." They have no money, they have no oil, they have nothing. "

For its part, the US Army has confirmed that it has hit "more than 7,000 targets" in Iran and has "damaged or destroyed" more than 100 ships since the start of the joint offensive with Israel on 28 February.

Before the US and Israel attack on Iran, the barrel of oil was worth $72. Aliados do not help reopen the Strait of Hormuz, NATO has warned of a "bad future."

ETB has been with Alaitz Goñi, owner of the Getxogas gas station, to discuss the impact of the rise in the cost of oil on their activity. In Bizkaia, customers' movements have fallen by 25% due to rising prices and demand that the Spanish Government lower taxes.

Ukrainian President Volodimir Zelenski has warned that easing these sanctions reinforces Moscow's position and gives it an additional $10 billion to continue the war against Ukraine.

For his part, Donald Trump has warned that he has "unparalleled firepower, unlimited ammunition, and time ahead" to deal with the "crazy garbage" that Iran is driving.

According to the latest report by the International Energy Agency (IEA), the interruption of maritime traffic in the Strait of Hormuz has resulted in a loss of the equivalent of 10 million barrels a day in the markets. The flow of the Strait of Hormuz has been reduced to less than 10% compared to those before the crisis. Indeed, before the crisis, 15 million barrels of crude oil were spent a day, and another 5 million barrels of crude oil from the world's total supply.

Following the latest attacks on ships passing through the Strait of Hormuz, the price of a Brent barrel has risen by more than $100. 

A summary, in two words, of what will be news in the Present today.

According to The Wall Street Journal this Wednesday, the International Energy Agency (IAE) has proposed the largest release of oil reserves in its history to reduce oil prices, which would exceed the 182 million barrels of oil that IAE countries placed in 2022 when Russia invaded Ukraine. 

The day before, Brent's barrel had reached $120, but after Trump declared the war against Iran "almost over," the price of oil has fallen.