Oil hits $108 after Gulf states postpone talks with Iran over Hormuz - Financial Times
Oil prices have risen to $108 per barrel following the postponement of critical talks between Gulf states and Iran regarding the Strait of Hormuz. The delay hinders efforts to stabilize shipping routes through this vital maritime chokepoint.
Why it matters
Disruptions in the Strait of Hormuz threaten global energy supplies and could lead to significant inflationary pressure on fuel prices worldwide.
Delay to crunch meeting sets back…
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