International
Iran has reportedly said the Strait of Hormuz will remain closed to oil shipments until a ceasefire in Lebanon is firmly upheld and waivers for Iranian oil sales are issued, adding fresh uncertainty to global energy markets. Strait Of Hormuz Closure The reported position links the reopening of one of the world’s most important oil […]
International
Oil prices rose sharply after Iran announced the closure of the Strait of Hormuz, one of the world’s most important energy shipping routes, following fresh US air strikes on Iranian targets. Oil Prices Rise After Strait Of Hormuz Closure Brent crude futures climbed by $2.30, or 2.47 percent, to reach $95.40 per barrel. US West […]