The Colombian dollar closed lower on March 13, 2026, affected by statements from President Donald Trump and Iranian leader Mojtaba Khamenei regarding the Middle East war. Tensions in the Strait of Hormuz drove oil price increases, raising investor alerts. U.S. and IEA measures aim to stabilize supply, but escalation continues.
On March 13, 2026, the dollar closed in Colombia at $3,685.38, marking a decline of $15.08 from the Representative Market Rate of $3,700.46. The session saw a low of $3,650 and a high of $3,715.50, with 1,973 transactions totaling $1.395 million.
This drop is linked to recent rhetoric from President Donald Trump and Iranian Supreme Leader Mojtaba Khamenei, indicating no immediate truce in the conflict disrupting global energy flows and raising inflation concerns. Iran has stated it will seek to keep the Strait of Hormuz closed, keeping investors on high alert for further escalation.
In the oil market, crude prices kept rising. Brent for May gained 0.9% to $101.34 per barrel, heading for a 9% weekly increase. West Texas Intermediate for April rose 0.3% to $95.99, with a 6% weekly gain. These prices are over 60% higher than early 2026 levels, despite reserve release efforts.
Goldman Sachs warned that prices could exceed $150 per barrel if Strait of Hormuz flows remain depressed through March. To counter this, Washington issued a 30-day license for purchases of stranded Russian crude at sea, as stated by Treasury Secretary Scott Bessent, to stabilize markets. Additionally, the U.S. Department of Energy will release 172 million barrels from its Strategic Petroleum Reserve, coordinated with the International Energy Agency (IEA) for a total of 400 million barrels.
Bjarne Schieldrop of SEB noted: "The market is starting to worry a lot about the possibility that this war will drag on. The big fear is serious damage to oil infrastructure." Benoit Peloille of Natixis Wealth Management added that volatility could negatively impact economic growth and inflation, even if the conflict does not prolong.
However, a related headline states that Iran's ambassador to the UN denies plans to close the Strait of Hormuz, highlighting potential contradictions in official positions.
