West Texas oil rises again and reaches US$70.46 due to tensions in the Strait of Hormuz

New York.– The price of a barrel of West Texas Intermediate (WTI) oil, the benchmark for the Dominican Republic, is trading this Tuesday at around US$70.46, recording a slight increase in international markets.

The rise is linked to geopolitical tensions in the Strait of Hormuz, a key point for the global transit of crude oil, which has raised concerns about potential supply disruptions.

The current price is situated above the US$68.55 reached previously, reflecting the oil market’s sensitivity to risk factors in strategic energy production and transport zones.

The highest value reached by a barrel of WTI so far in 2026 was US$112, recorded last April.

We recommend reading:

More Read

Dominican Republic to host the largest gathering of fuel stations in the Caribbean

An Israeli attack on a funeral in Gaza left 7 dead and 22 injured, according to a local hospital.

INEFI recognizes 41 personalities linked to Physical Education and School Sports

U.S. denies that two oil tankers exploded in the Strait of Hormuz due to Iranian mines

Additionally, at the beginning of May it closed at a peak of US$106.42 per barrel, driven by geopolitical tensions between the United States and Iran.

These high costs have pushed fuel prices upward globally.