Buenos Aires, March 31 (NA) – The price of Brent crude oil surged 63% in March due to the war in Iran and the closure of maritime traffic in the Strait of Hormuz. This price is key for oil companies operating in Argentina. This is the largest monthly increase since this type of crude became a benchmark for the European market in 1988. During the military offensive by the United States and Israel against Iran, the price of Brent reached a peak of $119.5 per barrel on March 9. Meanwhile, intermediate Texas crude, a benchmark in the United States, closed March with a 51% increase, at $101.38 per barrel (compared to the $67 it was trading at on February 27).
