Crude Oil Prices Surge Amid Strait of Hormuz Uncertainty; International Response to US Call Lags

Tehran. Crude oil prices are continuously rising in the global market. Uncertainty about market supply has increased following the effective blockade of the Strait of Hormuz, a major global fuel transport route.The price of Brent crude, considered a major indicator for the global oil market, rose by nearly 3 percent on Sunday, reaching up to $106 per barrel. However, on Monday morning, it was trading slightly lower at $104.63 per barrel. This is nearly 1.5 percent higher than the closing price of the previous day.At the time this news was prepared, around 11:42 AM Nepali time on Monday, Brent crude...