Oil prices rise 4 percent in global market amid Hormuz tensions
Fresh volatility has hit the global energy market as tensions and uncertainty surrounding the Strait of Hormuz continue to escalate in the Middle East. The impact has already been reflected in international crude oil prices. At the start of trading on Monday, May 11, the prices of Brent crude and US WTI crude rose by more than 4 percent. Concerns over possible supply disruptions and growing geopolitical tensions have increased anxiety among investors, driving the upward trend in the oil market.
