The Brent oil barrel, a reference in Europe, has exceeded this Friday 102 dollars after turning upwards at the start of the day. At 09:00 hours, crude advanced around 1.6%, after having started the session with a slight fall.
The market initially reacted to an announcement from the U.S. Treasury Department, which communicated that it will temporarily authorize various countries to purchase Russian oil that is already in transit. The measure seeks to contain the rise in crude oil prices caused by the war in Iran.
Despite this, oil had soared on the previous day after the new Iranian supreme leader, Mojtaba Jameneí, defended that the closure of the Strait of Hormuz, one of the main transit points for global energy trade, must be maintained.
The rise in crude oil prices continued even after the International Energy Agency (IEA) announced that several countries would release 400 million barrels from their strategic reserves, which represents the largest coordinated release of these reserves to date.
