34 Days
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عين ليبيا
Strait of Hormuz Tensions Boost Oil Prices as Brent Crude Surpasses $85 per Barrel
Oil prices rose significantly as military tensions between the United States and Iran escalated, disrupting oil flows through the Strait of Hormuz, which raised concerns in the markets about global energy supply security. Brent crude increased by 1.25% to reach $85.28 per barrel, while West Texas Intermediate rose by 1.3% to $79.98, surpassing their previous session losses. Both benchmarks gained approximately 12% over the week, amid ongoing fears that military escalation between Washington and Tehran could hinder navigation through the Strait of Hormuz, threatening global oil supplies and raising concerns among energy experts.
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