Oil moderates its sharp rise after G7 warning: dollar closes higher at S 3.490 and Lima Stock Exchange falls
The price of oil fell on Monday, March 9, after a sharp rise in recent hours. Brent crude, the international benchmark, reached USD 119 per barrel, its highest level since 2022, but then fell back and is currently below USD 100. The volatility of the energy market is due to the escalation of the conflict in the Middle East (war between the United States and Israel against Iran) and restrictions in the Strait of Hormuz, a strategic route through which nearly 20% of the oil traded worldwide passes. This situation has increased risk in energy markets and pushed prices upward. Faced with this situation, the finance ministers of the G7, the group that brings together the major industrialized economies, evaluated the possibility of releasing between 300 and 400 million barrels of oil from their strategic reserves to increase global supply and curb price increases. The proposal is being discussed in coordination with the International Energy Agency (IEA). However, no final decision has been m...
