The price of oil rose sharply again this Tuesday and is approaching the barrier of 90 dollars per barrel, driven by escalating tensions in the Middle East. After more than a month below 80 dollars, Brent crude gained more than 2 percent in early trading.
The benchmark barrel was trading around 84.60 dollars and reached 87 dollars during the day. Meanwhile, WTI, which is the main benchmark in the United States, was operating near 80 dollars after adding 3.4 percent compared to the previous close.
This increase comes amid a new round of U.S. attacks against Iranian terrorists. In the early hours of the day, Washington completed the third consecutive wave of offensives. President Donald Trump stated that his administration will take on the role of "guardian" of the Strait of Hormuz and will charge a 20 percent fee on all cargo passing through this key maritime route.
Iranian responses and cross statements
In response to U.S. actions, Iran attacked targets in Bahrain, Jordan, and two oil tankers linked to the United Arab Emirates that were transiting the area. Iranian Foreign Minister Abas Araqchi mocked the toll idea proposed by Trump. "Iran has always been the guardian of the Strait and will continue to be forever," he wrote on social media X.
