Crude Consequences: The Strait of Hormuz Tensions Revisited The latest escalation in tensions between the US and Iran has sent Brent crude soaring beyond $97, a level not seen since July.
This upward trajectory is largely attributed to the conflict's impact on global oil supplies. However, there are also deeper structural issues at play.
The Strait of Hormuz remains a focal point for traders, with heightened tensions around the key route for global crude shipments prompting them to build a risk premium into oil prices.