Oil prices spike overnight with WTI crude topping $105/barrel as U.S. blockade of Iran expected to persist, disrupting Strait of Hormuz trade.
Oil prices spiked overnight, with Crude Oil WTI surpassing $105 per barrel, as the likelihood of the U.S. naval blockade of Iran continuing for the foreseeable future increases, along with significant disruptions through the Strait of Hormuz.
What happened
Oil prices spiked overnight, with Crude Oil WTI surpassing $105 per barrel, as the likelihood of the U.S. naval blockade of Iran continuing for the foreseeable future increases, along with significant disruptions through the Strait of Hormuz.
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