The reopening of the Strait of Hormuz by Iran crashes fuel prices

BarcelonaAfter Iran announced the reopening of the Strait of Hormuz, fuel prices have plummeted. Specifically, at 4 p.m. this Friday, the price of Brent crude oil - the benchmark in Europe - fell by 11.03% to $88.43, thus falling below the $90 barrier. West Texas Intermediate (WTI) crude futures - the benchmark in the United States - stand at $84.12, 11.16% less than yesterday. At times during the conflict, the price of a barrel of Brent has flirted with $120.

For its part, at the same time, TTF natural gas futures also fell by 8.26%, to 38.92 euros.

As for the markets, after the exchanges had opened the day with slight falls, they are now returning to positive territory, with increases of around 2%. Specifically, the Ibex-35 is heading towards the end of the trading day with an increase of 2%, a similar figure to that shown by the German Dax (2.3%), the French CAC 40 (2.1%) or the Italian FTSE MIB (1.7%). As for the Euro Stoxx 50, it also grew by 2.16%, standing at 6,061.36 points. The main American indices also experienced positive openings: the Dow Jones (+1.92%), the S&P 500 (+1.06%) and the Nasdaq (+1.15%) are painted green.

The reopening of the strait has also impacted the price of other commodities. This is the case, for example, of silver, which rose by 5.68% and stands at $83.183. The value of gold also increased: specifically, it rose by 2%, to $4,904.49.