"The price of oil has jumped again to above $100 a barrel after President Trump said the US would blockade the Strait of Hormuz from Monday. The US president threatened to stop tankers from entering or leaving the key oil and gas shipping lane in response to the failure of talks with Iran."
"A ceasefire deal, which was due to last two weeks, only came into effect last week and saw the barrel cost of Brent crude oil drop from around $110 to the mid-90s. But it slowly inched up again over the following days as it became clear the agreement was a fragile one."
"With Trump reportedly considering resuming air strikes on Iranian infrastructure, fears will be stoked of another surge in price closer towards the $120 level. However, markets seem less inclined to make the huge day-to-day jumps they were at the start of the conflict."
The Independent focuses on essential issues such as reproductive rights, climate change, and Big Tech. It highlights the significance of on-the-ground reporting during pivotal moments in US history. The publication aims to provide unbiased coverage without paywalls, ensuring quality journalism is accessible to all. Recent developments include a spike in oil prices due to geopolitical tensions, particularly following President Trump's threats regarding the Strait of Hormuz. The fragile ceasefire with Iran has contributed to market volatility, raising concerns about future price surges.
Read at www.independent.co.uk
Unable to calculate read time
Collection
[
|
...
]