Oil Price Moves Away From $100 Amid Hopes for Middle East Truce

Brent crude oil price fell to $94.5 per barrel after nearly reaching $100 the day before. These fluctuations are linked to new statements about US-Iran dialogue and reflect regional instability, including the Strait of Hormuz blockade. In Argentina, rising oil prices are beginning to affect inflation.

Buenos Aires, March 25 (NA) - The price of oil is temporarily moving away from the $100 per barrel mark, following new statements suggesting dialogue between the United States and Iran for a truce in the Middle East. Brent is trading at $94.5 per barrel this Wednesday, after having neared $100 yesterday, according to the Argentine News Agency. The fluctuations show the instability of the situation in the conflict zone, and in particular, the blockade of the Strait of Hormuz. On a local level, in addition to fuels, oil-derived products are also beginning to feel the impact of the price increase, which will fuel monthly inflation.

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