Iran demands conditions as oil hits $89
Oil prices rose again, surpassing $89 per barrel due to fears of supply disruptions in the Middle East, amidst ongoing the closure of the Strait of Hormuz and Iran's conditions for reopening it to tankers. An Iranian official announced that the strait will remain closed to vessels until the United States responds to Tehran's demands for the release of frozen funds and the cessation of wars in Gaza, Lebanon, and the Gulf region. Additionally, maritime traffic through the strait decreased to six ships daily, compared to an average of 11 ships, amid concerns about possible disruptions to global oil supplies, especially given the ongoing tensions in the area.
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