¡It’s turning! The Texas oil barrel reaches 100 dollars due to the war against Iran

Miami.- The price of West Texas Intermediate (WTI) crude oil surpassed $100 per barrel this Sunday, for the first time since 2022, after a week of the United States’ war in Iran, while President Donald Trump acknowledged that “it’s a small price” to pay. WTI futures reached almost $110 this Sunday, while the price of Brent, the global benchmark for crude oil, surpassed $105, which analysts consider a sign of concern about the growing conflict in the Strait of Hormuz, through which a fifth of global crude oil passes.

“Brent prices rose as much as 15% to over $100 a barrel after leading Middle Eastern producers cut production because the crucial Strait of Hormuz remains closed due to the war in Iran,” indicated a report from the firm Trading Economics.

Trump reacted minutes after the rise in costs became known with a message on TruthSocial.

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“The short-term oil prices, which will fall rapidly when the destruction of the Iranian nuclear threat is over, is a very small price to pay for the United States and the world, security and peace. ONLY FOOLS WOULD THINK DIFFERENT!”, wrote the president.

Wall Street futures were also reporting a fall of around 1.5% in the S&P 500, Nasdaq Composite, and Dow Jones indices. Trump had downplayed the morning of this Sunday the increase in fuel prices derived from the conflict with Iran, calling it “a small glitch” in an interview with ABC News. Since the beginning of the fighting a week ago, the price of gasoline in the U.S. has risen 16% (47 cents), reaching an average of $3.45 per gallon. United States Energy Secretary Chris Wright assured CNN this Sunday that his country has no plans to attack Iran’s oil industry or energy infrastructure, distancing himself from Israel’s recent offensive against fuel depots in Iranian territory.