The barrel of Brent crude oil for September delivery soared this Monday by 9.59%, surpassing 83 dollars, as a consequence of the latest escalation of attacks between Washington and Tehran and the resumption of the U.S. naval blockade on Iran.
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North Sea crude, the European benchmark, rose in the London futures market to 83.30 dollars, an increase of 7.29 dollars compared to the last session, corresponding to last Friday, when it closed at 76.01 dollars.
Brent advances strongly this Monday after U.S. forces launched a new offensive against Iran on Sunday afternoon with the aim of “further reducing” its ability to attack commercial ships transiting the Strait of Hormuz, according to the United States Central Command (Centcom).
The attacks were ordered by the U.S. president, Donald Trump, “to hold Iranian forces accountable,” according to the military body, in retaliation for a previous Iranian bombing against a ship flying the flag of Cyprus transiting Hormuz.
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The response aims to ensure free passage in that maritime route. Trump said this Sunday in an interview with NBC that the area remains open to commercial traffic despite Iran announcing it has blocked it.
“Last night we bombed them as much as possible. They are very, very evil and sick people,” declared the Republican leader, who did not want to give details about the talks to reach an agreement and a new ceasefire.
Before the weekend round of attacks, Iran announced the closure of the strait “until further notice,” and assured that any foreign interference to open an “illegal route” in the region will receive a strong response.
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