Brent oil tops $105 on Middle East conflict

Brent crude rose above $105 a barrel and gained as much as 3 percent after attacks in the Strait of Hormuz, according to the state-run channel Telesur. The escalation reflects the prolonged conflict and fuel shortages generated in the region.

The Strait of Hormuz functions as a vital artery through which nearly a fifth of the world's oil passes. Disruption of traffic in this zone immediately affects transport, fuel and food costs worldwide, putting pressure on importing economies of the Global South.

Subsequently, the market showed a downward correction in prices during the same week. According to the outlet Infobae América, Brent fell 1.2 percent to $103.48, while West Texas Intermediate retreated 1.5 percent to $90.50 a barrel. Bloomberg Línea reported a similar trend, with Brent slipping to $103.52, driven by expectations of diplomatic progress.

Despite these short-term fluctuations, Brent has risen more than 70 percent so far this year. This prolonged volatility directly affects the public finances of developing countries, raising the cost of energy imports and destabilizing balance of payments.

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