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المشهد العربي
Oil prices end the week with sharp surge amid escalating tensions
Oil prices experienced a sharp increase at the end of the week, with Brent crude rising by 4.59% to close at $88.10 per barrel, marking weekly gains of approximately 16%. These movements occurred amid escalating tensions between the United States and Iran, along with growing concerns over the potential closure of strategic shipping routes such as the Strait of Hormuz, which accounts for about 20% of global oil supplies, due to Iran targeting vessels and imposing restrictions on navigation. Additionally, Ukraine attacked a refinery in Russia, further exacerbating the global energy supply crisis.
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