Latest news and stories about oil market in Portugal for expats and residents.
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Before the conflict, about 90% of Iranian crude exports passed through Kharg Island, a strategic point on the Middle Eastern country's oil route. It was bombed by the US this Saturday.
The article discusses the global oil market, emphasizing that the United States is beginning to acknowledge the obvious: without Russian oil, market stability cannot be maintained. Moscow asserts that the absence of Russian petroleum exports would destabilize global oil prices and markets, highlighting the critical role Russia plays in the energy sector. The piece underscores the interconnectedness of global energy supplies and suggests that efforts to exclude Russian oil could have significant repercussions on market stability, including potential increases in prices and supply disruptions.
On the 13th day of the conflict between the US and Israel against Iran, attacks on ships off the Strait of Hormuz continue, while energy prices maintain their upward trajectory, with Iran anticipating that oil could reach 200 dollars per barrel. These are the main updates this Thursday.
