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Oil Prices Rise as Strait of Hormuz Blockade Resumes and Gold Remains Steady
Oil prices have risen for three consecutive days following the United States' threat to carry out additional strikes on Iran, after resuming its blockade of shipments through the Strait of Hormuz. The price of Brent crude reached approximately $86 per barrel, marking an 11% increase in recent days, while West Texas Intermediate (WTI) crude surpassed $80. The U.S. military also launched strikes on Iranian military sites near the strait, aiming to undermine Iran's ability to threaten maritime navigation. Meanwhile, the American president postponed plans to impose tariffs on shipments passing through the strait. The risk of attacks on shipping remains, supporting ongoing rises in oil prices amid worsening geopolitical tensions and instability in the region.
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