24 Hrs
Source:
وكالة الأنباء القطرية
Russia cautions on Strait escalation
The Russian Foreign Ministry warned of the risks associated with any new escalation in the Strait of Hormuz, emphasizing that shipping traffic has decreased by 95%, with Brent crude oil prices rising to approximately $120 before falling back to $86. It also highlighted that more than 90% of some Middle Eastern countries' liquefied natural gas exports pass through the strait. The statement indicated that escalation could lead to a global supply crisis, especially with the heating season approaching. It reaffirmed ongoing cooperation with OPEC+ countries to support oil market stability and strengthen energy security.
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