WTI crude surges 8% to $77/barrel while Brent jumps 13% to $82.70 amid Hormuz closure threats
Strait of Hormuz handles 20% of global oil supply with 70% traffic reduction and 150+ ships anchored Geopolitical risk premium of $10-15/barrel is now embedded in prices with Brent targeting $84.70 resistance
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WTI crude surges 8% to $77/barrel while Brent jumps 13% to $82.70 amid Hormuz closure threats
Strait of Hormuz handles 20% of global oil supply with 70% traffic reduction and 150+ ships anchored
Geopolitical risk premium of $10-15/barrel is now embedded in prices with Brent targeting $84.70 resistance