NEW YORK/LONDON (dpa-AFX) – Oil prices remained little changed at a high level on Tuesday despite indications of a possible end to the Iran war. A barrel (159 liters) of North Sea Brent for delivery in June cost 107.42 US dollars. The price remained almost at the same level as the previous day. The price for US WTI crude oil for delivery in May was also little changed at $102.86.
Since the start of the Iran war at the end of February, North Sea Brent crude oil has risen in price by almost 60 percent. At times the price had risen to almost $120 per barrel.
Reports that the USA is seeking an end to the Iran war slowed down prices on the oil market. As the Wall Street Journal reports, US President Donald Trump is said to have told his advisers that he is ready to end military operations in Iran. This also applies if the strategically important Strait of Hormuz remains largely closed.
However, in recent weeks, Trump has repeatedly shown himself to be fickle in his statements about the further course of the Iran war. On Monday, Trump said that the US could increase attacks if Iran did not reopen the Strait of Hormuz.
Meanwhile, experts at energy market consultancy FGE NexantECA believe that oil prices could rise to $150 or $200 per barrel if the near-total blockage of the Strait of Hormuz continues over the next six to eight weeks. “100 million barrels of oil are lost every week, 400 million barrels every month,” said expert Fereidun Fesharaki on Bloomberg TV./jkr/jsl/jha/
