Why do oil prices rise when there is trouble in the Strait of Hormuz?

30 June, 2026, 08:00 am

Last modified: 30 June, 2026, 08:00 am

Why do oil prices rise when there is trouble in the Strait of Hormuz?

30 June, 2026, 08:00 am

Last modified: 30 June, 2026, 08:00 am

The historic peace agreement signed in Muscat, Oman, has plunged global energy markets into turmoil. As diplomats from both countries are busy holding closed-door talks in Geneva, Switzerland, a new and unexpected conflict has broken out in the Red Sea and the Persian Gulf.

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