The price of Brent crude oil, the benchmark for world oil prices, spiked more than 9 percent last week, trading above $78 a barrel after Israel bombed targets in Lebanon and Iran and Israel exchanged aerial attacks.
Tag: Strait of Hormuz
MIDDLE EAST MELTDOWN: BIDEN ESCALATES TENSIONS WITH IRAN IN STRAIT OF HORMUZ
The Biden administration deployed sailors and Marines to the Middle East last week as part of its “pre-announced deployment to support deterrence efforts in the Strait of Hormuz,” the Pentagon said.
AS U.S. RAMPS UP TENSIONS WITH IRAN, TEHRAN GOES ON WEAPONS SPENDING SPREE
Iran has fortified its naval forces in the Strait of Hormuz with long-range missiles and drones after reports that Washington is set to put Marines on commercial ships sailing through the key oil waterway—which is seen as the latest escalation between the two countries.