💨 Abstract

On Wednesday, Brent crude oil prices surged to their highest level in over a decade due to concerns over a potential extended blockade of the Strait of Hormuz. This increase was driven by geopolitical tensions, particularly U.S. warnings to Iran and the possibility of a prolonged naval blockade. Analysts predict that prolonged disruptions could lead to significant inflationary pressures. Meanwhile, Wall Street stocks mostly declined as investors awaited the U.S.

Courtesy: AFP