Al Jazeera: <\/p>\n\n\n\n
Oil prices are rising to nearly a six-week high amid a wave of strikes between the United States and Iran in the Strait of Hormuz, through which roughly a fifth of the world\u2019s oil supply travels during peacetime.<\/p>\n\n\n\n
On Monday, Brent oil futures, the global benchmark, rose to hover around $97 a barrel \u2014 up 9 percent over the last five days and 19 percent over the last month. Monday\u2019s market moves are approaching the highest point since July 24th, when prices topped $97.93.<\/p>\n\n\n\n
US West Texas Intermediate crude similarly rose to $92.27 a barrel, up 79 cents, also a near six-week high.<\/p>\n\n\n\n
In recent days, strikes escalated in the Strait of Hormuz. The US hit three Iranian oil tankers on Saturday, while Iran\u2019s Islamic Revolutionary Guard Corps (IRGC) said it had struck three tankers and three US-linked vessels in other areas.<\/p>\n\n\n\n
\u201cThis is a reflection of continued conflict and exchange of fire. The supply deficits globally are persisting, and there is little end to these shortages,\u201d Rachel Ziemba, an adjunct senior fellow at the Center for a New American Security (CNAS), told Al Jazeera.<\/p>\n\n\n\n
On Monday, Saudi Aramco\u2019s Jizan facilities were struck for the second time in the last month, according to reporting from the Financial Times that cited two people familiar with the matter.<\/p>\n\n\n\n
\u201cThe fact that a Saudi refinery in Jizan was hit, possibly delaying its return to production, didn\u2019t help,\u201d Ziemba added.<\/p>\n\n\n\n
Amid increased strikes, there\u2019s less traffic in the Strait of Hormuz, with an average of 10 commodity ships crossing the vital chokepoint each day over the last 10 days, according to Kpler, a data analytics platform.<\/p>\n","protected":false},"excerpt":{"rendered":"
Al Jazeera: Oil prices are rising to nearly a six-week high amid a wave of strikes between the United States and Iran in the Strait of Hormuz, through which roughly a fifth of the world\u2019s oil supply travels during peacetime. On Monday, Brent oil futures, the global benchmark, rose to hover around $97 a barrel \u2014 up 9 percent over the last five days and 19 percent over the last month. Monday\u2019s market moves are approaching the highest point since July 24th, when prices topped $97.93. US West Texas Intermediate crude similarly rose to $92.27 a barrel, up 79 cents,… <\/p>\n","protected":false},"author":1,"featured_media":61132,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-61131","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-in-english"],"_links":{"self":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/61131","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=61131"}],"version-history":[{"count":1,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/61131\/revisions"}],"predecessor-version":[{"id":61133,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/61131\/revisions\/61133"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/media\/61132"}],"wp:attachment":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61131"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61131"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}