16 Days
Source:
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Brent crude hits over $90
Brent crude futures jumped above $90 a barrel for the first time since June 11, due to escalating geopolitical tensions in the Middle East and concerns over potential disruptions to global oil supplies. This followed renewed clashes between Iran and the United States, with markets expressing worry about the possibility of a disruption in the Strait of Hormuz, especially after statements from Trump regarding the Imposition of a naval blockade on the strait. The June contract price increased by 7.76%, reaching $102.59 per barrel, reflecting the rising geopolitical risks to the oil market.
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