Abu Dhabi oil chief states Strait of Hormuz remains closed as crude prices increase
The Strait of Hormuz, through which approximately 20% of the world’s oil passes, has been a focal point of geopolitical tensions, particularly involving Iran and its neighboring countries. As of mid-October 2023, the region has seen increased military activity and rhetoric, which has contributed to fears of supply chain disruptions. In light of these developments, … Read more