As oil prices plunge below $91 after weeks, a new Hormuz crisis emerges
Al Jazeera·2h ago·Fear
What Happened
Brent crude fell below $91 per barrel Friday after Iran announced the Strait of Hormuz would remain open during Lebanon's ceasefire. However, Iran reversed course Saturday, warning it would block transit if US naval blockade of Iranian ports continued. Trump stated the blockade would remain until reaching a nuclear deal with Tehran. One-fifth of global oil transits Hormuz; further restrictions could raise prices significantly.
Key Entities
Strait of HormuzIranDonald TrumpBrent crudeIsraelLebanonUS Navy