Brent Crude Price
Hormuz crisis pushes Brent crude past $85 amid US-Iran tensions
Fresh geopolitical tensions between the US and Iran have pushed global crude prices sharply higher, with Brent crossing the $85 mark. Supply anxiety triggered by the escalating situation in the strategic Strait of Hormuz has reversed a recent downward trend, even as weak global demand caps further gains.
Oil Prices Surge as Iran-US Tensions Persist Over Hormuz Strait Blockade
Crude oil prices rose on Friday amid stalled efforts to resolve the Iran crisis, with Tehran continuing to restrict the Strait of Hormuz and the US Navy blocking Iranian crude exports. Brent crude futures climbed over one percent while both benchmarks extended gains for the fourth consecutive month.
