Rising tensions in the Strait of Hormuz have driven global oil prices above the $100 mark again.
As of around 3:49 PM, the price of Brent crude oil futures increased by about 2% compared to the previous closing, reaching $100.48 per barrel. At the same time, West Texas Intermediate (WTI) crude was trading at approximately $91.56 per barrel.
The surge in prices is linked to geopolitical developments in the region. Ongoing tensions involving Iran and the United States have raised concerns about disruptions to oil supply through the Strait of Hormuz, one of the world’s most critical energy transit routes.
Meanwhile, U.S. President Donald Trump announced that he would extend the ceasefire—reportedly at Pakistan’s request—until Iran presents its proposal regarding the agreement.
Source: Patronlar Dünyası/ Prepared by: İlayda Gök