The price of Brent Crude Oil increased to $ 102.5 per barrel, which is an increase of about 2.40%. At the same time, West Texas Intermediate crude (WTI) also rose to $ 95.3 per barrel. A major reason for tension in the oil market is the growing concerns regarding the Strait of Hormuz. It is one of the most important oil transit routes in the world. Meanwhile, the UAE temporarily closed its airspace as a precaution, further strengthening signs of regional instability.
Oil Prices Today: Oil boils, market is in trouble! Tension increases due to Iran crisis, world markets in alert mode – Market
