Oil Prices Today: Crisis deepens due to Iran war; Price increased by 13%, will petrol and diesel become costlier? – market
Iran-Israel War: This narrow sea route of the Persian Gulf, Strait of Hormuz, handles about one-fifth of the world’s oil supply. About 15 million barrels of crude oil passes through here every day. Oil and gas originating from Saudi Arabia, Kuwait, Iraq, Qatar, Bahrain, UAE and Iran reaches global markets through this route. Source