Brent Crude Surpasses $97 Amid Strait of Hormuz Supply Disruptions
Brent crude oil prices have climbed above $97 as escalating conflict in the Middle East puts global energy supplies under pressure. Iran has threatened retaliation against US actions, raising concerns about the security of key energy infrastructure in the region. Traders are responding by pricing in a risk premium, reflecting growing uncertainty around uninterrupted oil flows. The Strait of Hormuz, a critical chokepoint for global oil transit, is at the center of these supply disruption fears.
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