The Oil price has now reached its highest level since 2022. A barrel of North Sea Brent cost more than 119 US dollars, a barrel of US WTI more than 107 US dollars. Both varieties rose in price by more than seven percent.
The trigger was threats from the US President Donald Trump against the Iran and the fear of a months-long blockade Strait of Hormuzone of the most important routes for global oil and gas trade.
According to US government circles, Trump is considering a months-long blockade of Iranian ports in order to… Iran to force him to give up his nuclear program. The portal Axios Trump said he was against opening the strait until there was an agreement on Iran’s nuclear program. The Iranian leadership had previously offered to open the strait and then negotiate the nuclear program.
Shortly before the rise in oil prices, Trump personally made new threats against Iran in a social media post. »Iran can’t get it together. They don’t know how to make an anti-nuclear weapons deal. You’d better get smarter soon!” he wrote on his online platform. Below he published a depiction of himself with an assault rifle in his hand against the backdrop of a desert landscape erupting in several explosions.