Oil prices skyrocketed Thursday after the U.S. President's message Donald Trump (79) to the nation. The price of barrel (159 litres) of Brent oil from the North Sea with transportation in June increased by over 6 percent to $107.48 at the start of trade. The erstwhile day, the price temporarily fell below $100 due to hopes of a fast end to the war with Iran. akin growth was observed by American oil West Texas Intermediate (WTI), whose barrel price increased by over 4 percent to $104.29.
Although Trump again promised to end the war in his speech, he did not supply besides much fresh information and repeated earlier threats. He said The United States is on its way to achieving all its military goals "soon". Until then, further fierce attacks on Iran “ We are going to hit them with large force in the next 2 to 3 weeks. We will take them back to the Stone Age, where they belong.”
"Buy oil from the United States"
According to Trump, countries that are presently suffering from oil shortages due to the war on Iran should simply buy oil from the United States. "Buy oil from the United States. We have plenty. We have so much," Trump said, referring to affected countries disruptions in oil transport through the Ormuz Strait . He besides demanded that another countries take over the protection of the strait. He didn't think that the United States are the main culpritsBut he said they'd help.
About a 5th of global regular oil consumption is usually transported by the Strait of Ormuz. Since not all oil can be transported by pipelines through Saudi Arabia, the global Energy Agency (IEA) reports a regular shortage of around 11 million barrels of standard 100 million barrels. Germany are little affected by deficiency than Asian countries. Only a tiny condition of refined oil in Germany comes from the Gulf.
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