The stalemate in the Middle East war, the expansion of the conflict to the Red Sea, and the ongoing disruptions in the Strait of Hormuz have caused a new surge in oil prices, which are expected to remain above US$100. The Brent-type barrel, the international benchmark, closed on Thursday at US$107.63, a jump of 6.34% compared to the previous day and of over 20% since the resumption of hostilities in the Middle East.
The American benchmark, WTI, closed at US$102.48, surging 6.69% throughout the day. Prices had not reached these levels since May, shortly before a ceasefire in the Middle East and the signing of a protocol in June.
The situation is felt directly at gas stations, with an unprecedented increase in fuel prices. The geopolitical crisis in the region continues to pressure global energy markets, generating uncertainty about the stability of worldwide oil supply.
