Oil prices surged by more than 9% after US statements about a naval blockade of Iran
Kyiv • UNN
Global oil prices rose by more than 9% due to US plans to reinstate a naval blockade of Iran. Analysts link this to fears of supply disruptions through the Strait of Hormuz.
World oil prices rose more than 9% on Monday, reaching their highest level in a month after reports that the US intends to reinstate a naval blockade of Iran, covering the entire coastline, ports, oil terminals, and all vessels regardless of flag. Reuters reports, writes UNN.
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Brent crude futures rose by $7.29, or 9.59%, to $83.30 per barrel. US WTI crude rose by $6.73, or 9.42%, to $78.14 per barrel. Analysts attribute the sharp rise in quotes to fears of possible disruptions in energy supplies through the Strait of Hormuz.
According to the US Navy's Combined Maritime Information Center, the naval blockade is planned to be reinstated on July 14 at 20:00 GMT. Earlier, US President Donald Trump stated that Washington is reinstating the blockade of Iran and will charge a 20% compensation for all cargo passing through the Strait of Hormuz.
Iran stated that it will not allow the US to interfere in the management of the Strait of Hormuz and warned of a response in case of attempts to control transit without Tehran's permission. Meanwhile, the UN International Maritime Organization emphasized that it opposes any fees for passage through international straits, as there is no legal basis for this.
The US will restore the naval blockade of Iran from July 1413.07.26, 22:47 • 1750 views