DUBAI (Lord Media): Global crude oil prices witnessed a slight increase due to uncertainty surrounding the Strait of Hormuz. During Monday morning trading in Asia, oil prices rose, with Brent crude climbing over 1% to exceed 84 U.S. dollars per barrel. U.S. crude prices also recorded an increase.
The Strait of Hormuz is one of the world’s most crucial maritime passages, and its future remains uncertain. Iran has stated that an agreement with Oman on new maritime routes is in its final stages.
However, the United States still needs to meet other conditions to finalize the agreement.
