US warns of energy crisis over Strait of Hormuz
The article reveals the continued decline in oil flows through the Strait of Hormuz, one of the most vital routes for global oil transportation, due to tensions and conflicts in the region. The U.S. Energy Information Administration predicted that oil flow would remain limited until the end of August, amid oil prices rising for the sixth consecutive day, with Brent crude prices reaching around $87 per barrel. It is also expected that the average gasoline price will increase to $3.78 per gallon this year. Additionally, data indicated a significant decrease in the number of ships passing through the strait. The International Energy Agency warned that reopening the strait has become an urgent necessity to address the depletion of global oil reserves, which have fallen to their lowest levels since April 2025.
Notice: This Is an AI-Generated Summary
Comments (0)