Oil

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. 

On Monday, the Finance Ministers of Germany, Canada, the United States, France, Italy, Japan and the United Kingdom will meet urgently to discuss the war in the Middle East and its economic consequences.

The war in the Middle East has a direct impact on transport, which could soon spread to other areas of everyday life. Truck drivers are very concerned about the sharp rise in prices in a week.

As a result of the war in the Middle East, all energy exporters in the region could cut production in a few weeks, bringing the price of oil to $150 a barrel and "sinking the world's economies."

Along with the price of crude oil, the price of natural gas is also rising, since in the Dutch TTF market, a reference in Europe, the price of gas to be delivered within a month has risen by another 22%, to $53.14.

It is one of the world's leading commercial fuel routes, from which about 20% of the world's oil and gas production is transported, and an average of 144 ships travel every day.

The company reported on Thursday to the National Securities and Exchange Commission (CNMV) that the adjusted net net result, which specifically measures business progress, fell 15.1% in 2025 from the previous year to 2,568 million.

Companieslike\u00A0 Repsol, Eni, Chevron, BP or Shell will be able to significantly increase oil productionthanks to newB signs. Repsol CEO Josu Jon Imaz advanced that his company is willing to "invest more in Venezuela."

Repsol's leader and former PNV president, Josu Jon Imaz, has thanked the US president for "opening the door to a better Venezuela," and has shown his willingness to triple production.

This is the third oil tanker confiscated this week in connection with Venezuela and the fifth since the beginning of the interceptions. This Friday's mission has been carried out "without incident".

Meanwhile, the public company Petroleos de Venezuela (PDVSA) has announced that it has begun negotiations with the US to sell oil.

The response of the Russian Government has been immediate and has denounced the illegal seizure of the tanker, in violation of the 1982 United Nations Convention on Open Sea Navigation.

Venezuela could soon become the world's oil power if licensed to international companies, as Trunpe predicted. But black gold is not the only goal: the Latin American country also has large reserves of minerals, natural gas, nickel, and coltan.

The White House said yesterday that the US was the founder of the Venezuelan oil industry, and that the nationalization of that industry in Caracas in 1976 was the "biggest robbery" ever committed against Americans.