The price of Brent oil on the global market has increased by 10%, reaching a level of $80 per barrel. According to Reuters, this surge is driven by concerns over the safety of shipping in the Strait of Hormuz, which is a crucial logistics route for global oil trade, accounting for about 20% of world supplies.
The situation escalated after military actions began between Iran, the USA, and Israel on February 28. Despite claims from the Iranian Ministry of Foreign Affairs that the closure of the strait is not planned, representatives of the Islamic Revolutionary Guard Corps (IRGC) had previously stated a potential ban on vessel movement. As a result, the largest marine cargo carrier Maersk, along with leading oil companies and traders, have already suspended the transportation of fuel and liquefied natural gas through this region, citing safety concerns.
Experts expect that when trading opens on March 2, oil prices may continue their sharp rise and fall within the range of $90-100 per barrel.
