Source: International Business Times
Oil flows through the Strait of Hormuz remain constrained, contributing to sustained pressure on global energy prices amid ongoing supply disruptions. AFP Global financial markets are increasingly being forced to reckon with the economic consequences of a prolonged energy disruption stemming from the war in Iran, as the closure of shipping through the Strait of Hormuz continues to tighten global oil supply and drive inflation higher. Oil prices have surged to their highest levels in four years, with Brent crude briefly crossing $120 per barrel on Wednesday amid concerns that the disruption could extend well into the year.
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