The US and Israel’s war on Iran may have paused, but the shockwaves are still moving through global energy markets. With disruptions continuing around the Strait of Hormuz, fuel prices across the world are climbing as fears over oil supply routes deepen.
Brent crude surged above $100 a barrel in late April and early May, hitting multi-year highs amid concerns that instability around the strategic waterway could disrupt global shipments. The Strait of Hormuz remains one of the world’s most critical oil chokepoints, carrying a major share of global crude exports through its narrow passage