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9 Apr 2026, 16:12

On Thursday afternoon, April 20, with ongoing uncertainties about the sustainability of the ceasefire between Iran and the U.S. and the continued closure of the Strait of Hormuz, global oil prices rose again, returning to nearly $100 per barrel.
@VahidHeadline
Reuters reported that Russia's revenue from its largest oil tax will double due to the oil and gas crisis caused by U.S. and Israeli attacks on Iran.
Since the beginning of the Islamic Republic's war, the Strait of Hormuz has effectively closed a route for about one-fifth of global oil and liquefied natural gas flows, causing Brent crude oil prices to rise above $100 per barrel.
According to Reuters' calculations based on preliminary production and price data, Russia's mineral extraction tax from oil production in April will reach about 700 billion rubles ($9 billion), while in March it was 327 billion rubles.
This calculation represents the first tangible evidence for Russia, the world's second-largest oil exporter, of unexpected profits arising from the war in Iran; a war that, according to oil traders, has created the most severe energy crisis in recent history.
@VahidOOnLine
With the Islamic Republic's continued disruption in the Strait of Hormuz despite the ceasefire, the Japanese government is seeking to release another 20 million barrels of oil from its strategic reserves in May.
This country has a 95% dependence on oil imports, most of which come from Gulf Arab countries.
Reuters writes that the oil shortage has caused Japanese refineries to operate at below 68% of their nominal capacity.
Japan is also searching for oil resources outside the Strait of Hormuz and has increased coal consumption in power plants to cope with the oil and gas shortage.
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