Brent crude has experienced a significant increase, marking the highest price level seen since the onset of the Ukraine war. This surge is closely linked to geopolitical uncertainties in the region.
US President Donald Trump has indicated that the blockade in the Strait of Hormuz could extend for several months, contributing to market volatility and rising oil prices.
The current situation reflects ongoing tensions that are affecting global oil markets, with investors reacting to the potential for sustained disruptions in supply.