The cost of a barrel of Brent crude oil has increased by more than 10% and surpassed 101 dollars, following statements from Iran’s new Supreme Leader, Mojtaba Jamenei, declaring that the Strait of Hormuz must remain closed. In his first communiqué, Mojtaba Jamenei urged for the strait to be kept closed, warned about US military bases in the Middle East, and asserted that justice would be served for the «blood of the martyrs.» Brent oil has accelerated its growth, and at 16:30 hours, its price rose by 10.15%, reaching 101.30 dollars. In the early hours of yesterday, the cost of Brent crude reached 100 dollars, though it later dropped, only to surpass that figure again shortly before 14:30 hours; and two hours later, it exceeded 101 dollars. West Texas Intermediate (WTI) has seen an increase of 10.79%, reaching a price of 96.82 dollars per barrel. This has led to the New York Stock Exchange opening with declines nearing 1% in all three indices, which are around 1.50% down in the Dow Jones Industrial Average, the S&P 500, and the Nasdaq. The oil sector is experiencing volatility. Last week, the price of a barrel nearly reached 120 dollars, hitting 119.5 on Monday. However, on that same day, the rise stalled after US President Donald Trump claimed that the war with Iran was nearly over.
