Oil continues its rise: Brent is now trading above 107 dollars.

London (EFE) – On Wednesday, the price of Brent crude oil for delivery in May increased by 3.83%, reaching over $107 at the close of trading on the futures market in London, due to concerns over supply disruptions following Iran’s threats to attack energy facilities in the Middle East. North Sea oil closed at the Intercontinental Exchange (ICE) in London with a settlement price of $107.38, which represents an increase of $2.96 compared to the previous session, which finished at $103.42. The Brent price continued to rise, nearing $110 today, following accusations from Iran against Israel and the United States regarding an attack on the Pars field. Iran also threatened to attack other refineries and fields in the region in response. Iranian President Masud Pezeshkian commented on X that «such actions will not bring any benefit to the US Zionist enemy or its allies; on the contrary, they will only serve to worsen the situation and could lead to consequences that would affect everyone». Hours later, Tehran carried out an attack and set fire to the Ras Lafan refinery, which is the main centre for liquefied natural gas production in Qatar, as confirmed by QatarEnergy. They also attacked a fuel storage facility for aircraft in Riyadh, according to semi-official Iranian agencies. According to Forex market analyst Fawad Razaqzada, the increase in Brent oil prices, heading towards $108 per barrel, has disrupted the calm that seemed to exist earlier in the week. As a result, markets have put aside hopes for a de-escalation of tensions and are now factoring in the risk of continued supply disruptions. «There was some expectation that tensions would ease, especially after Trump’s previous comments suggesting a possible de-escalation. However, that narrative has changed again, and traders are now reacting to every piece of news. Stocks go down when oil rises, recover when tensions ease, and so on,» the analyst noted on Wednesday. The price of Brent oil began to fall this Wednesday, initially attributed to the announcement from the semi-autonomous region of Iraqi Kurdistan, which will allow the federal government of Iraq to resume oil exports through its pipeline. However, the price recovered following attacks on energy infrastructure and the blockage of traffic in the Strait of Hormuz.