The Strait of Hormuz and the Red Sea have disrupted the global oil market. 🔺Oil prices remain bullish despite daily corrections, due to heightened tensions in West Asia and disruptions in export routes; Brent is trading at $97.65 and WTI at around $89.6. 🔺If geopolitical tensions in West Asia continue or if the scope of attacks on export routes expands, the return of Brent to above $100 and a further strengthening of WTI would not be unexpected.
Translated regional report
The Strait of Hormuz and the Red Sea have disrupted the global oil market.
Automated translation and editorial curation by Middle East CatchSite publication
Original report: Mehr News AgencyOriginal publication Editorial policy
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