Oil prices rose by 9% at the close, marking significant market gains
Oil prices surged by more than nine percent at the close, reaching their highest level in a month, following the re-imposition of a US naval blockade that includes the Iranian coast, ports, and oil stations, increasing concerns about navigation through the Strait of Hormuz. Brent contracts closed at $83.30 per barrel, up by $7.29, while West Texas Intermediate contracts reached $78.14, up by $6.73, marking the largest daily gains since April and the highest levels since June.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)