Crude oil prices rise as Strait of Hormuz remains blocked
after close1 source ↓written by the desknot a recommendation
- rising
- 1.08%
- per barrel
- $111.59
- of global oil
- 20%
Crude oil prices surged on 1 May due to ongoing tensions with Iran, with Brent crude rising 1.08% to $111.59 per barrel. The Strait of Hormuz blockade continues to disrupt about 20% of global oil supply, raising inflation concerns and impacting global risk assets. Both Brent and WTI have recorded gains for four consecutive months.
Not investment advice. For informational purposes only.