OREANDA-NEWS  Global Brent crude oil prices rose above $ 83 per barrel against the backdrop of the situation in the Middle East, reaching their highest level since mid-summer 2024, according to trading data. By the time of writing, the index had jumped by more than 8.5 percent, reaching $84.38.

The price of oil for the second day in a row. On Tuesday, the corresponding trend was accelerated by Iran's closure of the Strait of Hormuz, through which significant volumes of hydrocarbons pass, mainly to Asian buyers.

In a March 3 statement, the Chinese Foreign Ministry, in particular, called for an immediate cease-fire and ensure the safety of navigation in the strait.