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New York.- The price of a barrel of Texas opened slightly higher this Monday as the fear of an open war between Iran on one side and the U.S. and Israel on the other dissipates, which could mean closing or restricting passage through the strategic Strait of Hormuz.
At 9:00 a.m., Texas was trading at $73.98 a barrel, which is an increase of 0.19% compared to the previous quote. Identical behavior is shown at this time by the Brent barrel, which is trading at $77.17 a barrel, up 0.21%. However, just fifteen minutes earlier both indicators were down, which confirms the volatility of the situation in an uncertain geopolitical environment. The Iranian Parliament has demanded the closure of the Strait of Hormuz, through which 20% of the world's crude oil transported by sea passes, although the final decision depends on the Supreme National Security Council of the Persian country. That eventual closure has been criticized even by a firm ally of Iran such as China (the world's largest importer of Iranian crude): the Chinese government urged this Monday "to intensify efforts" to "avoid an impact on global economic development".You may be interested in: Prices of the most used fuels will not vary from June 21 to 27
The CNBC channel points out today that at least six ships - two large crude oil tankers, three with chemical products and one with refined products - have changed their routes early Monday to precisely avoid passing through the Strait of Hormuz for fear of being involved in some way in a conflagration. However, as the day progressed and the imminence of an Iranian response to Saturday's US attacks receded, half of those ships corrected their routes and headed back on their usual itinerary, in a situation that experts call "changing".
