Prices rose OilToday, Monday, after exchanging blows for days between… US andIranwhich highlighted the fragility of the temporary agreement to end the war between them and once again slowed the flow of energy shipments across Strait of Hormuz.
Crude futures rose Brent 58 cents, equivalent to 0.8%, to $72.57 per barrel by 02:07 GMT, and West West crude increased Texas The US average reached $70.11 per barrel, an increase of 88 cents, or 1.3%.
“There are still many risks facing the oil market,” ING analysts said in a note issued on Monday. “However, market players appear to be focused on what a continued recovery in oil flows might mean for the global balance.”
Storage tanks and oil refineries on Jurong Island in Singapore (Reuters)
Brent fell 10.6% last week, its third weekly decline, after oil shipments through the Strait rose last week to their highest level since the start of the US-Israeli war on Iran in late February.
However, traffic has since slowed following renewed attacks on ships in the strait starting Thursday, including an oil tanker linked to a state. Qatarwhich led to the launching of strikes by the United States and Iran in the worst escalation since the signing of a temporary agreement between them to end the war.
A US official said on Sunday that Iran and the United States had agreed to stop the latest wave of hostilities in… Gulf And the resumption of talks on their dispute over the Strait of Hormuz, limiting oil price gains.
And she appealed Aramco Saudi Arabia Loading crude oil at Ras Tanura, west of the Strait of Hormuz, after a halt that lasted nearly four months, at a time when oil producers increased their production and exports before reaching an interim agreement.
Loading operations continued even after the company’s helicopter crashed on Sunday in Ras Tanura, killing 14 citizens. The causes of the accident were not known.
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