Buenos Aires, March 6 (NA) -- Brent oil surpassed the US$90 barrier this Friday as the conflict in the Middle East continues. According to the Argentine News Agency, the basic commodity was trading at US$91.50 as the session averaged, representing a rise of over 5%. The military escalation shows no signs of a quick resolution, and the situation in the Strait of Hormuz makes the scenario more delicate. While the rise of the dollar improves the prospects of Argentine exports, with an additional income of US$1.300 million for every US$10 increase, consumers will have to face higher costs at the pumps. On the other hand, the rising cost of energy products will force the country to spend more on purchasing LNG this winter. Although needs have fallen and there are export projects, the necessary infrastructure for transporting the fluid has not yet been built. Economist Enrique Szewach estimated this additional expense at around US$500 million, with which the energy balance will be positive. In this scenario, consumers will be the worst hit, as the excess dollars will enter the Central Bank. The CEO of YPF, Horacio Marín, said that if Brent continues above US$80, it will be inevitable to pass on the costs to prices, although gradually.
