Brent climbs above $107 in the face of diplomatic paralysis in the Strait of Hormuz

Published at: 12/05/2026 08:32 AM

The global energy market is facing a new day of high volatility. The Brent oil barrel, a benchmark for the European and global markets, has surpassed the $107 barrier for its delivery contracts in July, driven by the deterioration of the geopolitical situation in the Middle East.

This escalation, which represents an increase of close to 3%, coincides with the stalemate in peace talks between the United States and the Islamic Republic of Iran. The uncertainty has been compounded by the continued blockade in the Strait of Hormuz, a vital artery through which approximately 20% of the world's crude oil supply circulates.

For its part, the West Texas Intermediate (WTI), the benchmark indicator in the United States (USA), has also shown a pronounced upward trend, standing at 100.94 dollars per barrel.

Telesur highlights that industry analysts warn that the persistence of these tensions and the absence of a clear diplomatic solution could keep prices at triple-digit levels for the rest of the quarter, increasing inflationary pressure in the main economies.

Mazo News Team