Global oil prices rose at the start of trading on Monday, as regional tensions increased, particularly military clashes in the Strait of Hormuz.<\/p>\n
According to an RT report republished by Mehr News Agency, Brent crude rose 3.47% to $108.24 a barrel. West Texas Intermediate crude also climbed 3.26% and was trading at $103.32 a barrel.<\/p>\n
The report said tensions in the Persian Gulf and developments related to the Strait of Hormuz were among the main reasons for the price increase. The targeting of Saudi Arabia\u2019s East-West oil pipeline also affected the oil market.<\/p>\n
According to the source, the pipeline had a daily transfer capacity of about 5 million barrels of oil. The postponement of a meeting between Iran and Arab Gulf states in Oman was also cited as another factor driving oil prices higher.<\/p>\n
The Strait of Hormuz is considered one of the world\u2019s most important energy transit routes, and any instability there usually has a rapid impact on the global oil market.<\/p>\n","protected":false},"excerpt":{"rendered":"
Oil prices rose after tensions in the Strait of Hormuz and Gulf unrest, with Brent and WTI both gaining in early Monday trading.<\/p>\n","protected":false},"author":2,"featured_media":21769,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,17],"tags":[],"class_list":["post-21770","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-important-news"],"_links":{"self":[{"href":"https:\/\/atlaspress.news\/en\/wp-json\/wp\/v2\/posts\/21770","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/atlaspress.news\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/atlaspress.news\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/atlaspress.news\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/atlaspress.news\/en\/wp-json\/wp\/v2\/comments?post=21770"}],"version-history":[{"count":0,"href":"https:\/\/atlaspress.news\/en\/wp-json\/wp\/v2\/posts\/21770\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/atlaspress.news\/en\/wp-json\/wp\/v2\/media\/21769"}],"wp:attachment":[{"href":"https:\/\/atlaspress.news\/en\/wp-json\/wp\/v2\/media?parent=21770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/atlaspress.news\/en\/wp-json\/wp\/v2\/categories?post=21770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/atlaspress.news\/en\/wp-json\/wp\/v2\/tags?post=21770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}