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Oil hits $85 as battle for Strait of Hormuz alarms energy markets
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NEWSDECK ANALYSIS
The Strait of Hormuz is a vital shipping lane located between the Persian Gulf and the Gulf of Oman, with a significant proportion of the world's oil exports passing through it. As a result, any disruption to traffic in the strait can have a major impact on global energy supplies and prices. The recent agreement between the US and Iran to extend their ceasefire had previously helped to stabilise oil prices, but the current tensions in the region are now driving them back up.
This story is currently only covered by one source from a single part of the political spectrum. NewsDeck will update this page automatically if other outlets pick up the story.
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Oil hits $85 as battle for Strait of Hormuz alarms energy markets
Brent crude reaches levels last seen before the US and Iran agreed to extend their ceasefire
14 Jul, 06:58
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