⏺Oil prices have returned to levels above $100 per barrel

📊 At the peak, May futures prices for Brent crude on the ICE exchange increased by 10.45%, to $101.59 per barrel.

The reason for the further price increase was reports of new attacks on ships in the Persian Gulf waters and the closure of oil terminals. This price jump is expected to boost inflation and raise borrowing costs worldwide, Reuters reports.

Meanwhile, the market did not react strongly to IEA's plans to release 400 million barrels of oil from its reserves — the largest in history. As part of this plan, the US announced that it will release 172 million barrels of oil starting next week.

Data: TradingView