The price of oil has skyrocketed in international markets after a week of conflict The barrel of Texas intermediate oil (WTI), the reference in the United States, exceeded $100 this Sunday for the first time since 2022, amid growing tension in Middle East.
During the day, WTI futures reached close to $110 per barrel, while the Brentthe main world benchmark for crude oil, exceeded $105. Analysts attribute this sharp rise to concern about one of the most strategic energy routes on the planet.
Through this maritime strait, located between Iran and Oman, approximately one fifth of the oil traded worldwide. Fear of global supply disruptions has rapidly raised pressure on energy markets.
According to a report by the Trading Economics firm, Brent prices increased by up to 15% after it was learned that several large producers in the Middle East cut their production while the Strait of Hormuz remains closed due to the conflict.
Trump’s reaction
The president of the United States, Donald Trump, He reacted shortly after to the oil rally with a message published on his social network, Truth Social. The president downplayed the immediate economic impact and defended that the rise in crude oil is an acceptable cost within the context of the conflict.
“Short-term oil prices, which will fall rapidly when the destruction of Iran’s nuclear threat is over, is a very small price to pay for US and world security and peace. “ONLY FOOLS WOULD THINK DIFFERENT!” Trump wrote.
Hours earlier, in an interview with ABC News, the American president had already minimized the increase in energy prices, calling it “a small mistake.”
Impact on gasoline and markets
The rise of oil It is already being transferred to the price of fuel. Since the fighting began a week ago, the average price of gasoline in the United States has increased by 16%, which is equivalent to about 47 cents per gallon. Currently, the average price of fuel in the country is around $3.45 per gallon.
Geopolitical tension has also impacted financial markets. This Sunday, Wall Street futures registered falls close to 1.5% in the main stock indices, among them the S&P 500, the Nasdaq Composite and the Dow Jones.
No plans to attack the Iranian energy sector
In parallel, the Secretary of Energy of the United States, Chris Wright assured CNN that Washington has no plans to attack the oil industry nor Iran’s energy infrastructure.
His words mark a certain distance from the strategy adopted by Israel, which in recent days has carried out attacks against fuel depots within Iranian territory.
Meanwhile, energy markets remain attentive to the evolution of the conflict. The prolonged closure or blockage of the Strait of Hormuz could lead to further increases in oil and increase pressure on the global economy.
