Islamabad (Commerce Desk) Crude oil prices in the global market have once again recorded a significant increase, putting further pressure on the international energy situation.
According to details, Brent crude oil prices rose by nearly six percent, crossing the level of 96 dollars per barrel.
Experts say that the transportation of approximately 600 million barrels of oil in the Strait of Hormuz has been affected, resulting in serious disruptions to the global supply chain.
Reports further state that after Iran’s announcement to reopen the Strait of Hormuz, twenty vessels crossed this key waterway last week; however, the situation has not yet fully stabilized.
Energy experts warn that if the current situation continues, further volatility in global oil prices may be observed in the coming days.
