Business · 2 March 2026

Oil prices climb 13 percent with Strait shipping threatened

Oil prices went up on Monday after US-Israeli attacks on Iran led to concerns about the Strait of Hormuz being closed. Brent crude rose by 13 percent, reaching $82 per barrel during early trading. This disruption of ships through the important passage increased worries about worldwide oil supplies. Around 20 percent of global oil supplies travel through this Strait annually.

By BriefTea Editorial · 2 March 2026 at 4:23

Reported by Guardian · How we write briefs

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