Key Points
- Oil prices rose due to Iran-US tension
- The price of a barrel of Brent oil exceeded $90.6
- US President Donald Trump announced that he would take action if Iran closed the Strait of Hormuz
By the Numbers
$90.620%
Oil prices have risen due to the tension between Iran and the US. The price of a barrel of Brent oil exceeded $90.6. US President Donald Trump announced that he would take action if Iran closed the Strait of Hormuz.
The rise in oil prices has a two-way effect in Colombia. On the one hand, the income of the company Ecopetrol increases, but on the other hand, the government's subsidy of fuel prices creates a budget deficit.
The high oil prices, especially due to the subsidy of Acpm fuel, increase the government's budget deficit. The government may be forced to take various measures to close this gap.
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Frequently Asked Questions
- Why is the rise in oil prices important?
- The rise in oil prices has a significant impact on the economy and budget deficit.
- What effect does the tension between Iran and the US have?
- The tension between Iran and the US has an effect on the rise in oil prices and has a negative impact on the economy.
- What effect does the rise in oil prices have in Colombia?
- The rise in oil prices in Colombia increases the income of the company Ecopetrol, but also increases the government's budget deficit.
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- La Orquesta·