New York. – The West Texas Intermediate (WTI) crude oil closed this Friday with a 1.4% increase, to 82.40 dollars per barrel, due to the lack of progress in resolving the conflict between the United States and Iran.
At the close of the session, WTI futures contracts for September, the benchmark in the United States, added 1.15 dollars compared to the previous close.
Over the course of the week, Texas appreciated by 6%.
Oil prices remain volatile due to the lack of normalization in the Strait of Hormuz, with tanker traffic far below normal levels, although it has increased slightly, analyst Dennis Kissler of BOK Financial told The Wall Street Journal.
Treasury Secretary Scott Bessent stated on Thursday that the U.S. intends to impose “economic isolation and the continued blockade of the Strait of Hormuz” on Iran, while Secretary of Defense Pete Hegseth threatened to maintain the latter “indefinitely.”
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Meanwhile, two vessels from the Emirati oil company ADNOC were attacked last night while transiting through the Strait of Hormuz, without causing any casualties, according to the company.
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The Government of the United Arab Emirates (UAE) attributed this “hostile” action to Iran, but Tehran has not commented.
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Since the beginning of the war launched by the United States and Israel against Iran on February 28, at least 18 ADNOC vessels have been attacked in the Strait of Hormuz, actions that have resulted in the death of one crew member and injuries to 20 others.
Meanwhile, the International Energy Agency (IEA) forecast that global oil demand will fall more than expected this year, amid the growing impact of the Ormuz closure.
