Global oil prices have started to climb again after US President Donald Trump decided to charge ships passing through the Strait of Hormuz and to resume the blockade of Iranian ports. This is reported by Business Insider.
Brent crude futures rose 3.59% to USD 86.29 per barrel. The US West Texas Intermediate (WTI) also responded to the situation with an increase, with futures for which rising by about 1.98% to USD 79.69 per barrel.
However, oil prices remain well below their peak values recorded during the hostilities. In late April, Brent reached its peak of USD 126 per barrel. Over the next two months, the price fell sharply to USD 70 per barrel as global supply recovered.
According to a report by the International Energy Agency (IEA), oil production increased by 4.1 million barrels per day in June. Despite this, it remained about 9.4 million barrels per day below the level that preceded the Israeli-US war against Iran.
As Ukrainian News Agency earlier reported, on July 12, the US Central Command stated that the Strait of Hormuz is open to all ships and that Iran does not control shipping in it.
As we recall, according to the American publication Axios, the US is demanding that Iran publicly announce the opening of the Strait of Hormuz.
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