Os Petroleum prices on Monday (23), in a session marked by volatilityafter the US decision on the weekend of joining Israel in the attack to the nuclear facilities of the Iranwith investors assessing The potential risks of oil supply interruptions as a result of the escalation of the conflict.
The futures of gross oil Brent rose 0.84%, to US$ 77,70 per barrel, around 8am (Brasília time). Oil West Texas Intermediate advanced about 1%, to US$ 74,50.
US President Donald Trump said there was “obliterado” Iran’s main nuclear facilities in attacks over the weekend, joining an Israeli attack on a climb of conflict in the Middle East, as Tehran promised to defend himself.
Israel carried out new attacks against Iran on Monday, including the capital of Tehran and the Iranian nuclear installation of Fordowwhich was also the target of the US attack.
Iran is the 3rd largest producer of oil from OPEC.
Iran said on Monday that the US attack on its nuclear facilities has expanded the range of legitimate targets to its Armed Forces and called US President Donald Trump, “player” for joining Israel’s military campaign against the Islamic Republic.
Meanwhile, China said the US attack has damaged Washington’s credibility and warned that the situation “may get out of control.”
Prices were volatile at Monday’s session. Both contracts reached new five months at the beginning of the session of US $ 81.40 and $ 78.40, respectively, before returning gains and being negative during the European morning session, then recovering to a gain of 1%.
Os Prices climbed Since the beginning of the conflict, in June 13amid growing fears that an Iranian retaliation can include the closure of the Estreito de Ormuzwhere about one fifth of the global supply of gross oil.
However, investors are evaluating the extent of the geopolitical risk award in oil markets, as the Middle East crisis has not yet impacted the offer.
“The geopolitical risk award is disappearing, because so far there have been no supply interruptions. But as it is unclear how the conflict can evolve, it is likely that market participants maintain a risk award for now. Therefore, prices should remain volatile,” said Giovanni Staunovo, an analyst at UBS.
The geopolitical risk award includes the fear that an Iranian retaliation could include the closure of the Ormuz Strait, through which about one fifth of the global gross oil supply.
