He Brent oil reached 93 dollars per barrel this Wednesday, due to fear that the regionalization of the war between Israel and Hamas interrupt the supply of crude oil in Middle Eastafter Iran would promote a oil embargo to Israeli territory.
Brent crude oil futures rose 2.8% ($2.54) to $92.44 a barrel at 10:56 GMT, while West Texas Intermediate (WTI) crude oil They gained 2.9% ($2.54) to reach $89.2 per barrel.
At the beginning of the session, both benchmarks gained more than 3 dollars and reached their highest levels in two weeks, showing the market’s nervousness regarding a cut in oil supplies to Israel and an expansion of the conflict to the Persian Gulf.
Last week, at the beginning of clashes between the Israeli army and Hamas following the terrorist attacks on Israeli territory committed by the group that controls Loop, oil prices had skyrocketed due to fears of regionalization. Then, as the days went by, the increases were reversed and a certain stability prevailed.
However, today the alarms went off again with the escalation of the conflict after the missile attack on a Gazan hospital that left more than 500 dead.
Iran, which controls the passage of Petroleum for him Strait of Hormuzurged members of the Organization of Islamic Cooperation to impose an oil embargo on Israel.
Although the OPEC+ It does not plan to adopt any immediate measures, two sources from the producer group told Reuters, the markets applied risk premiums.
As a sign of the rising tension in Middle East, Jordan canceled a summit he was going to hold with the American president, Joe Bidenand Egyptian and Palestinian leaders.
For Uruguaywhich matters 100% of the Petroleum and gas it consumes, the upward movements in international prices are bad news.
Ancapthe National Fuel, Alcohol and Portland Administration, acquires the Petroleum that imports into the country with the reference prices of Brent crude oil, which is traded on the stock exchange. London.
The amount paid by the state company is key in the formation of the International Parity Prices (PPI) that makes the Ursea monthly to advise the Executive on whether or not to modify the public sales rates for gasoline, diesel and supergas.
It is worth remembering that, in October, the government announced the third consecutive increase in the price of Super 95 gasoline and the second of gasoilas a result of increases in the price of Petroleum globally, but in a scenario of geopolitical stability very different from the current one.
Source: Ambito
