Oil gains 5.9% this week
The global oil price increased by 5.9% last week, with Brent crude reaching $88.60 amid escalating statements between Iran and the United States, particularly regarding the U.S. naval blockade of Iran and the interception of shipping traffic through the Strait of Hormuz. This has led to a decline in maritime shipping activity through the waterway, which previously transported about 20% of global oil supplies before tensions escalated. Additionally, OPEC预计 a slowdown in oil demand growth amidst supply disruptions, while U.S. oil inventories recorded the largest weekly increase in over three and a half years.
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