During trading operations at the ICE London Intercontinental Exchange, the price of the May 2025 contract for Brent crude oil increased by 0.45%, reaching 73.14 USD per barrel.
On the NYMEX commodity exchange in New York, the price of WTI crude oil for April delivery this year also rose by 0.46%, amounting to 70.08 USD per barrel.
Analysts predict that any military conflict will not be limited but it will last long, sending the oil prices as high as $120 bpd.
Iran and the Russian Federation held a joint naval drill which wrapped up yesterday in northern Indian Ocean and the Sea of Oman.
The IRGC Navy has also practiced blocking the strategic waterway in case of aggression in a drill a few days ago in case the country is attacked.
MNA
