Oil prices expected to rise with Iran's attack on Israel

This Monday (15) oil prices moderated again, after reaching high values ​​last Friday (12) after Iran announced retaliation against Israel for an alleged attack carried out by the country on April 1, which killed important military personnel. .

The war between the two countries has been shaking the oil market, increasing prices. On Saturday (13), when Iran fired dozens of drones and missiles at Israel, the value of a barrel of Brent oil, produced in the sea of ​​northern Europe, reached US$ 92, around R$ 477, an unseen amount since October 2023, when there was a new escalation in prices and closed at U$91.50, around R$462.

This Monday, prices became more controlled again and closed at U$89, around R$461.

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^{The biggest reason for the increase in oil is the war between Israel and Iran, in the Middle East (Photo: reproduction/Bloomberg/Getty Images)}

What the experts say

In an interview with Rádio Nacional de Brasília, the professor of International Relations at USP, Pedro Dallari, said that, if tension still continues between the two countries, there is a high probability of other instabilities in fuel prices. “If the growth of hostilities in the region paralyzes or hampers trade in the Persian Gulf, this could have a very significant effect on oil supplies as the price of a barrel of oil increases worldwide”he explained, citing that Brazil will also suffer from the escalation.

Other experts are now following Israel's response, which if it reacts, could escalate the situation even further.

Impact on Brazil

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^{Fuel may become more expensive in Brazil due to the increase in oil (Photo: reproduction/Bloomberg/Getty Images)}

The country also continues to monitor the conflict between Israel and Iran and the oil market. According to the Minister of Mines and Energy, Alexandre Silveira, a group of experts will be created to monitor the impacts on the national oil market, after Iran's attack on Israel last Saturday (12).

According to Alexandre, the country suffers, like other countries, from the impacts when there are restrictions on the production or sale of oil.

Silveira also stated that he will continue with the team to monitor the variation in the price of a barrel of oil on the international market and act with the mechanisms that the country has in place, respecting the governance of the private sector and also of Petrobras.

The minister said that he is already in contact with fuel distributors, Petrobras and members of the oil supply chain in Brazil to prepare the country for a possible increase, if values ​​still fluctuate and the conflict continues.

Featured photo: fuel values ​​(Reproduction/Bloomberg/Getty Images)