‘One way or the other’: Trump’s threats send oil prices surging
Global oil prices have surged to near six-month highs despite stable supply levels, driven by increased shipping costs and geopolitical tensions. Rising insurance premiums and security risks in the Strait of Hormuz are significantly inflating the cost of transporting oil.
Why it matters
Fluctuations in oil prices have broad implications for global inflation, transportation costs, and international economic stability.
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Share A A A The flow of oil through the Strait of Hormuz has returned to something close to pre-war levels. So why has the price surged again to near six-month highs?
After trading below $US100 a barrel last month, the price climbed to just under $US117 a barrel last week, with pricing in the futures market suggesting it could still be trading above $US100 a barrel well into next year.
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