Oil prices rise – death of Iranian official Larijani escalates market
Kyiv • UNN
Global oil prices surged amid escalation in the Middle East and the threat of a blockade of the Strait of Hormuz. Brent crude exceeded $103.
Global oil prices continue to rise amid escalating war in the Middle East. Iran confirmed the death of National Security Council Secretary Ali Larijani, which increased market tension. This is reported by Bloomberg, writes UNN.
Details
WTI holds near $96 a barrel after a 3% rise, Brent exceeded $103. Investors are reacting to the risks of supply disruptions.
Strait of Hormuz under pressure
The situation around the Strait of Hormuz remains key - shipping is restricted, and Iran effectively controls transit. Analysts warn of possible further blocking of oil flows.
Since the beginning of the year, prices have already risen by more than 60%. In the US, diesel has exceeded $5 per gallon, which increases inflationary pressure and complicates central bank decisions.
Experts expect Brent to consolidate in the range of $95-110 with potential for further growth.