Strait of Hormuz closure: Why crude oil prices haven’t spiralled out of control amid US-Iran conflict
Brent crude prices in the spot market briefly surged to around $144 per barrel before easing as markets adjusted. (Reuters photo) The Middle East conflict and the closure of Strait of Hormuz led to the biggest oil supply shock and disruption in recent times. Global oil supply fell by 13.6 million barrels per day, which … Read more