He oil it shoots again. This Monday crude oil is trading with increases of almost 5%, so that a barrel of Brent stands at $97, and West Texas at $94. The reason? The resurgence of tensions in the Middle East after Iran and Israel exchanged attacks this weekend. Not even the decision of the OPEC+ of increasing its production starting in July has managed to calm things down. The Israeli Air Force has attacked military targets in western and central Iran this Monday, as reported by the Israeli Ministry of Defense in a publication on the ‘X’ social network. According to what they say from Tel Aviv, it is a response to a previous attack by Iran, and it is that Tehran launched a missile against Israel due to tensions in Lebanon. Iranian Parliament Speaker MB Ghalibaf had said in a message on ‘X’ that the US naval blockade and violation of agreements regarding Lebanon would constitute a violation of the ceasefire, adding that due to the current US blockade and military action in Lebanon, US and regime bases and assets in the region are now legitimate targets. The president of the United States, donald trumpstated this Sunday in statements to Fox News that the missile attacks «without a doubt they will not help the peace negotiations» in the Middle East. And what has happened in recent days has once again revealed the fragility of the ceasefire signed between Washington and Tehran last April, which hangs by a thread. «The escalation of tensions has affected oil markets, while Hopes fade for broader regional deal to reopen Strait of Hormuz«, say Danske Bank strategists. And in a statement to The New York Times, the Islamic Revolutionary Guard of Iran He stated that the ceasefire «was conditional on a ceasefire on all fronts,» making it clear that the attack had been «a warning, and if the attacks are repeated, the responses will be more forceful.» The confrontations between Israel and Hezbollahbacked by Iran, in Lebanon, have complicated the temporary peace, as negotiators struggle to reach an agreement to end the conflict. Iran demands cessation of hostilities in Lebanon and lifting of the US blockade of its ports and ships. The United States, for its part, demands that Iran hand over your nuclear material and commit to never having a nuclear weapon.
OPEC+ RAISES PRODUCTION
And meanwhile, the expanded group of oil producers, known as the OPEC+ (Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman) has agreed this weekend increase its supply for July by another 188,000 barrels per day of crude oilaccording to the agreement reached in what was their second meeting after the decision announced in May by United Arab Emirates to withdraw from the group in the middle of the conflict in the Middle East. This is the fourth increase in the oil production quota that has been approved since the closure of the Strait of Hormuz, within the framework of the «collective commitment to support the stability of the oil market» that they defend from OPEC+. This increase is similar to the one set for June, which was reduced with respect to the monthly increases of 206,000 barrels per day in May and April due to the departure of the United Arab Emirates from the organization.
