Oil price LIVE: Crude 'to hit $130' as Strait of Hormuz closed and US seizes Iran ship
Tensions in the Middle East have escalated after the US seized an Iranian ship, causing crude oil prices to surge. The Strait of Hormuz closure has raised concerns about potential disruptions to global oil supplies.
The US has seized an Iranian ship, escalating tensions in the Middle East. Crude oil prices have surged as a result, with predictions that they could hit $130. The Strait of Hormuz, a critical waterway for global oil supplies, has been closed, raising concerns about potential disruptions. The US and Iran have a history of conflict, and this latest incident has heightened worries about the impact on the global economy. Oil prices are highly sensitive to events in the region, and this development is likely to have significant repercussions. The situation remains volatile, with further escalation possible.
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