Oil prices rose sharply amid the tense situation in the Strait of Hormuz

The price of oil rose sharply by six percent due to traffic problems in the Strait of Hormuz. This was reported by the Reuters news agency on March 2.

"The most immediate and tangible factor affecting the oil markets is the actual shutdown of ship traffic through the Strait of Hormuz, which prevents 15 million barrels of crude oil per day from entering the markets," Jorge Leon, head of the geopolitical analysis department at Rystad Energy, told the agency.

The publication clarifies that Brent crude oil increased in price by 6.4% to $ 77.57 per barrel, while American oil rose by 6.2% to $71.17 per barrel. In addition, the publication clarifies that gold prices increased by 1.6% to $ 5,360 per ounce.

It is noted that if there is no de-escalation in the near future, oil prices will rise significantly.

Barrel blow: War in Iran could accelerate oil prices to $150 per barrel

How the Middle East conflict is becoming the main driver of commodity prices

According to the London ICE exchange, Brent oil prices increased by 13.04% after the start of trading, reaching $82.37 per barrel, amid attacks by the United States and Israel on Iran.

Earlier in the day, financial platform data Investing.com They showed that the exchange price of gold rose to $5,397.85 per troy ounce, an increase of almost 3% against the background of the situation in the Middle East.

On February 28, the United States and Israel launched a large-scale military operation in Iran. The American leader Donald Trump called her goal "the protection of the American people." As part of the Israeli-American Operation Lion's Roar, military installations in western Iran, the residence of the country's supreme leader Ayatollah Ali Khamenei, as well as an elementary school in the city of Minab were hit.

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