The closure of the Strait of Hormuz, which is a hub for international shipping traffic, has contributed to sending the price of oil soaring since the beginning of the war. (Archive photo). Photo: Reuters/Reuters
Oil price hits $100 for the first time since May
On Thursday afternoon, the price of a barrel of Brent oil rose to 100 dollars for the first time since late May as the situation in the Middle East worsened.
According to chief analyst Arne Lohmann Rasmussen, Thursday’s price increase occurred because the conflict has spread to the Red Sea,...
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