The price of oil rose on Sunday to over $100 per barrel - 647 Danish kroner per barrel. This is reported by the media outlet CNN and the news agency AFP.
The price of a barrel of Brent crude oil is now $104 per barrel. The price of gasoline in the United States has risen to $3.45 per gallon - just under six kroner per liter. This is an increase of 16 percent compared to the week before, writes CNN. According to the media outlet, the reason for the increase in the price of oil is that the United States and Israel attacked Iran on February 28.
This is the first time in four years that the price has been so high. The last time was in February 2022, shortly after Russia invaded Ukraine. In March of the same year, the price of a barrel of Brent oil reached just under $140. This was close to the record year of 2008, when the price reached almost $150 per barrel during the financial crisis, writes AFP.
US President Donald Trump wrote in a post on his social media, Truth Social, that oil prices will only be high temporarily. Prices will fall again when what he describes as the Iranian nuclear threat is overcome, he writes.
- It is a very small price to pay for the security and peace of the United States and the world. Only fools would believe otherwise, he writes.
From 2012 to 2014, oil prices were almost constantly above $100 due to the civil war in Syria and Western sanctions against Iran. The aim was also to put an end to the country's nuclear program.
Prices were also above $100 during the Arab Spring in 2011, when several long-time leaders in Tunisia, Egypt and Yemen were overthrown. A senior Iranian official said Sunday that the conflict has entered a new phase.
- Iran will not give up control of the Strait of Hormuz until it achieves the desired results, it was said.
The Strait of Hormuz between the Persian Gulf and the Gulf of Oman is one of the busiest straits in the world. Its location makes the strait an important trade hub.
The Strait of Hormuz is not officially closed, but several ships have rerouted for fear of attack. This means that the oil must be transported by another route, which takes longer and thus costs more. The world's largest shipping company, Danish Maersk, has suspended its sailings in the Strait of Hormuz.
/ritzau/
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