Brent crude oil prices surged past $100 per barrel, a two-month high, as escalating Middle East tensions reduced tanker traffic through the Strait of Hormuz.
Islamabad, Pakistan – Web Desk: Global crude oil prices continued their upward climb on Friday as escalating tensions in the Middle East kept markets on edge, with Brent crude touching its highest level in two months.
Brent crude oil reached $100.5 per barrel in international markets, the strongest level recorded in the past two months. West Texas Intermediate (WTI) crude also climbed to $91.65 per barrel during the same session, reflecting the broader upward pressure across global energy markets.
At the same time, the number of oil tankers transiting the Strait of Hormuz has fallen to its lowest level in two months as regional tensions continue to disrupt shipping routes through the critical waterway. According to Reuters, only a single oil tanker passed through the strait on Thursday.
The vessel, identified as New Giant and carrying approximately two million barrels of Iraqi crude oil, transited the Strait of Hormuz on Thursday en route to Rizhao Port in China, the report said.
The decline in tanker traffic underscores growing caution among shipping operators navigating the strait, one of the world’s most critical chokepoints for oil transport, as the regional security situation remains volatile.
