Oil prices remain at around $84 per barrel
On Friday, July 17, global oil prices continued to hover around the $84-per-barrel mark. The market remains stable amid current economic factors and the situation on the global energy market.
On Friday, July 17, the price of a barrel of Brent crude oil stood at $84.3 per barrel.
Overall, the price has remained virtually unchanged since the previous trading day.
On the night of June 15, U.S. President Donald Trump announced the conclusion of a peace agreement with Iran and the reopening of the Strait of Hormuz.
“I hereby grant full authorization for the unimpeded opening of the Strait of Hormuz and, at the same time, authorize the immediate lifting of the U.S. naval blockade. Ships of the world, start your engines. Let the oil flow!” the U.S. president declared.
Meanwhile, on July 8, U.S. President Donald Trump stated that the framework agreement with Iran on the cessation of hostilities had effectively expired.
At that time, Trump threatened a “major attack” on Iran’s critical infrastructure.
On Sunday, July 12, Iran once again closed the Strait of Hormuz and attacked two ships that, according to the Islamic Revolutionary Guard Corps, had violated the rules of passage.
U.S. Central Command (CENTCOM) reported that on the night of July 12–13, on the orders of President Donald Trump, the U.S. launched another series of strikes against Iran, aimed at weakening its ability to attack civilian shipping in the Strait of Hormuz.
This is according to statistics from Tradingeconomics.
Oil prices rose sharply due to the new escalation in the Middle East.
On Thursday, July 9, Iran stated that it had fired ten ballistic missiles at a U.S. military base in Jordan. At the same time, Jordanian authorities reported that all missiles were intercepted, and there were no reports of damage or casualties.
Despite this new round of conflict in the Middle East, Iran maintains that it is not abandoning diplomacy and is attempting to restore relations with the Gulf states. Officials in Tehran claim that the U.S. and the West have mistakenly interpreted their willingness to negotiate as a sign of weakness.
