The price peaked at $82.37 per barrel.
Tankers in the Strait of Hormuz. Photo: Iranian Army/Handout/Anadolu via Getty Images
Oil prices rose sharply in early trading after the start of a US and Israeli military operation against Iran. On Monday, March 2, the price of May futures for Brent crude oil on the London ICE exchange increased and peaked at $82.37 per barrel.
The last time oil traded above $82 per barrel was more than a year ago — on January 16, 2025. After a sharp jump, the price fell to $79.38 per barrel.
The day before, on March 1, Iran, in response to strikes on its territory, announced the suspension of trade through the Strait of Hormuz until further notice.
About 20% of the world's oil and up to 30% of global liquefied natural gas supplies pass through this waterway.
As a result of Tehran's decision, a cluster of vessels formed near the strait. According to Reuters, at least 150 oil tankers dropped anchor in open waters without reaching it. Even considering the current surplus of oil on the world market, a complete cessation of vessel passage through the Strait of Hormuz could lead to a temporary deficit of around 10 million barrels per day, which accounts for 10% of global consumption.
Meanwhile, leaders of Middle Eastern countries warned Washington about a possible jump in oil prices above $100 per barrel as a result of the war with Iran.
Comments
1. Отвлекает от Украины,
2. Дефицит боеприпасов: Украине не дадим, самим нужно,
3. Нефтюшка взлетит до небес.
Правда, россия лишается поставок вооружений из Ирана, но у них свои заводы построены...