13 Hrs
Source:
الرؤية
Straits closure shifts Saudi oil exports
The closure of Hormuz and the Bab el-Mandeb Strait led to a decline of more than 1% in oil prices, amid concerns over the potential closure of these straits, which increased pressure on gasoline and diesel prices, surpassing the rise in oil prices. The events focused on escalating tensions in the region, with American strikes on Iran and their impact on energy markets, as well as Iran's escalation of attacks on American bases in the Gulf and Jordan, which boost expectations of increased shipping disruptions and a rise in global oil prices.
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