He price of a barrel of Brent crude oil, reference for Europerose by more than 4% before the opening of the markets of the Old Continent to the escalation of tension in the Middle East, momentarily exceeding the threshold of 90 dollars, although its advance later cooled slightly above 1%, to just over 88 dollars per barrel. Specifically, the cost of reference oil for Europe rose to $90.78, 4.2% more than the $87.11 at the close on Thursday, after the information on Israel's possible response to Iran in retaliation for Saturday's Iranian attack. However, as time went by, the price of a barrel of Brent relaxed its advance to just 1.4% to trade at $88.31 before the opening of stock markets in Europe.
In the case of West Texas Intermediate (WTI) oil, reference for the United Statesthe price followed a similar pattern, with a strong initial rise of more than 4%, to $86.28, which subsequently faded to fall below $84.
In so far this yearthe price of a barrel of Brent crude oil has appreciated by more than 14%, while the cost of WTI oil has accumulated an increase of around 17%.
After having chained four consecutive falls, this week, European oil has managed to reverse the trend following the early morning missile attack against Iran in the province of Isfahan, attributed to Israel, in retaliation for the attack suffered last Saturday, according to US media. Iran has denied the attack, although it has assured that anti-aircraft defenses have shot down several drones. The analysts They closely follow the development of events in the Middle East.
