The specialized publication “Oil and Gas Journal” reported on Friday, 24 Mehr, that the intensification of attacks on commercial ships in the Persian Gulf, the reduced traffic of oil tankers, and a drop in U.S. oil reserves have led to an increase in global oil prices over the past week.

According to this report, oil prices in Friday trading reached $110 per barrel for Brent. U.S. West Texas Intermediate crude oil also rose to $101.80. Both oil benchmarks ended the week with price growth.

The publication wrote that the recent attacks by the Islamic Republic on two cargo ships and one tanker have increased the cost of maritime transportation and ship insurance.

According to tanker-tracking data, the volume of daily crude oil transfers from the Strait of Hormuz has fallen from an average of 13.9 million barrels in the past month to about 2.9 million barrels.

Oil and Gas Journal also reported that Donald Trump, the U.S. president, reached an agreement with Russia last week over the supply of diesel fuel; an action that indicates a shift in the two countries’ fuel-trade policy.