Madrid. By the middle of the day this Monday, Brent crude was experiencing a 6.7% increase in the London futures market, having risen by 13% a few hours earlier, surpassing 80 dollars, due to concerns about a potential supply shortage stemming from escalating tensions in the Middle East. The price of North Sea crude for delivery in May was quoted at 77.75 dollars before 12 GMT on the ICE in London, which represents a 6.7% increase compared to Friday’s close, in a day of significant volatility. In the early hours of the morning, in response to the weekend attacks by the United States and Israel against Iran, the price of Brent crude hit a peak of 82.37 dollars, marking an increase of over 13%. Oil prices in Europe continue to rise, awaiting developments in the conflict with Iran, which is one of the OPEC+ oil producers and has control over the Strait of Hormuz, a route for oil transportation and trade in the region. Approximately 20% of the oil and a quantity of liquefied natural gas transported by sea pass through the strait that divides the Persian Gulf from the Gulf of Oman, according to information provided by the U.S. Energy Information Administration and the UN.
Brent rises by 6.7% amid supply fears due to tensions in the Middle East.
