The price of oil has surpassed 105 dollars per barrel due to the increasing instability in the Middle East. This rise comes after the Houthi takeover of the Yemeni port of Mocha, which exacerbates tensions in the region.
The Brent barrel, a benchmark in Europe, has risen nearly 4% in recent hours, reaching 105 dollars, levels not seen since May. Meanwhile, the West Texas barrel, a benchmark in the United States, has once again surpassed 100 dollars, according to expansion.com.
The price escalation is due to the recent takeover of the Yemeni port of Mocha by the Houthis, an event that increases the threat to maritime traffic in the Red Sea. Additionally, tensions in the Persian Gulf continue, with ongoing restrictions in the Strait of Hormuz, where attacks on oil tankers have intensified in recent days.
Despite fears regarding global energy supply, the firm Julius Baer highlights that the market remains surprisingly stable. Exports from the Middle East and global oil storage levels remain solid, which has not reversed the already established supply trends.
"This discrepancy in perception suggests that prices incorporate an exceptionally high risk premium," commented Norbert Räcker, head of Economic Research at the firm.
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