UNITED STATES – Global oil prices climbed, with Brent crude hitting USD 96.04 per barrel (+0.54%) and US WTI reaching USD 91.86 per barrel (+0.61%). Geopolitical tensions in the Strait of Hormuz, marked by new strikes and military escort operations, are keeping risk premiums high and fuelling concerns about severe physical supply disruptions across major maritime channels. Crude benchmarks are expected to rise by approximately 7% weekly and over 20% over the past month, causing industrial plant operators and commercial manufacturing hubs to seek localised, cost-resilient energy alternatives.
For more information, click here to read more.
(Source: The Economic Times)
