Oil prices rose more than 3% amid the crisis in the Strait of Hormuz and Trump’s criticism of NATO.

The April contract of oil WTI negotiated in New York Mercantile Exchange (Nymex) ended this Tuesday (17) with a significant increase of 3.32%, quoted at US$ 95.53/barrel. The May contract of Brent advanced 3.20% in Intercontinental Exchange (ICE), trading at US$ 103.42/barrel. 

In this trading session, oil prices were driven up by the ongoing logistics crisis in Strait of Hormuz, with investors having no real prospects for an end to the conflict between United States and Israel against Iranwhich resulted in the route being closed by the Persian government.

Despite the director of White House Economic Council, Kevin HassettWhile stating that the conflict between the parties should "end soon," Iranian authorities are signaling that there is no de-escalation of tensions on the horizon. 

Furthermore, the US president, Donald Trump, criticized the North Atlantic Treaty Organization (NATO)after member countries rejected the president's appeals to send ships to escort oil tankers through the Strait. 

This text was translated by machine from Brazilian Portuguese.