At the opening of the futures market, US crude oil rose by 2.81% from Friday’s closing, as Iranian forces downed a US military plane over the weekend. Trump warned of unleashing «hell» on Iran if they fail to act by Tuesday night, threatening to destroy their power plants and bridges.
Iran, a major oil producer within OPEC+, controls the strategic Strait of Hormuz, a crucial passage for oil and commercial traffic in the region. The country has kept the strait closed through attacks on oil tankers, causing a significant disruption in oil supply.
In response to the escalating tensions, oil prices for jet fuel, diesel, and gasoline have surged since the conflict began on February 28. Despite an agreement among OPEC+ members to increase production by 206,000 barrels per day in May, the market remains uncertain about how oil will flow globally if the strait remains closed.
«Iran has requested UN intervention in the face of Trump’s threats, warning that tomorrow may be too late,» reports suggest, as the situation continues to unfold.
Fuente: www.diariolibre.com
