Oil prices today: Brent tops $120, hits highest level since 2022 as Trump doubles down on Hormuz blockade
Global oil prices have soared past $120, reaching their highest point since 2022.
This surge is driven by fears of prolonged supply disruptions stemming from a US blockade of Iran and its impact on the vital Strait of Hormuz.
Adding to market jitters, the UAE's exit from OPEC introduces further uncertainty regarding global energy supply management.
Strait of Hormuz crisis deepens
- Iran Offers a New Proposal to End War Wall Street Journal —
- Iran offers to reopen Strait of Hormuz if US lifts its blockade and the war ends • FRANCE 24 📹 France 24 — · 2min
- Iran to reopen Strait of Hormuz if US lifts blockade, reports claim Euronews —
- Iran offers to reopen Strait of Hormuz if US lifts its blockade and the war ends France 24 —
- Trump not happy with latest Iran proposal to end the war, US official says Sydney Morning Herald —