💨 Abstract

Iran attacked two oil tankers in the Strait of Hormuz, causing fires and one death. Another ship was hit off the UAE. Iraq halted oil ports, and Iran warned of potential $200 oil prices due to regional instability. The Strait of Hormuz, crucial for global oil supply, faces disruptions amid US-Iran tensions. The IEA is releasing 400 million barrels of oil to stabilize markets. Brent crude prices rose 3.5% to $90.

Courtesy: Sarah Hooper