Oil Prices Rally as U.S.-Iran Tensions Escalate
The price of oil has been driven higher by the latest round of escalations in the Middle East, renewing fears of a drastic global energy shock. Brent crude – the international benchmark for oil prices – jumped over six per cent on Monday morning to over $96. It follows a weekend of tensions where shipping in the Strait of Hormuz has once again ground to a halt following a brief opening on Friday. The regime in Tehran has warned that the new closure will remain in place until the US blockade is l...
Original Source
Read the full article at Oilprice →KhanList aggregates and links to publicly available news content. We do not host full articles from third-party sources. Always verify important information with original sources.