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المشهد العربي
Oil prices climb amid US Iran blockade hints
Oil prices increased significantly toward the end of the week, as the American threat to impose an open-ended naval blockade on Iran heightened fears of a decline in global energy supplies. Brent crude rose by 1.55% to reach $88.41 per barrel, while West Texas Intermediate (WTI) increased by 1.80% to $82.73. The weekly gains for both benchmarks are expected to exceed 5%. These rises come amid escalating American tensions with Iran, with expectations that the U.S. Treasury Department will issue escalating measures to economically isolate Tehran in an unprecedented manner.
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