Oil prices have risen significantly, with Brent crude reaching $106.12 per barrel, in the context of the war between the USA and Israel in Iran, which has led to the closure of the Strait of Hormuz, a crucial route for oil transport.
About 20% of the world's oil supply passes through this strait, and the Trump administration has announced measures to protect oil tankers. Additionally, Trump has called on other countries to help reopen the strait.
While oil prices have been volatile, the administration has tried to expand American production and has approved a new BP project in the Gulf of Mexico. Furthermore, member countries of the International Energy Agency have agreed to release 400 million barrels of emergency oil.
The increase in gasoline prices in the USA, by 24% since the beginning of the war, could also affect food prices, as fertilizers and perishable goods depend on transport through the Strait of Hormuz.
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