Prices have jumped by 4 percent on Monday, amid the announcement of resumed military strikes by the US and Iran, disturbing energy shipments in the Strait of Hormuz, reports Reuters.
This was a result of another wave of strikes against Iran by the US on Sunday, targeting widespread locations with high-precision strikes, the Central Command stated.
Iran’s Revolutionary Guards further stated that they attacked US military bases in Kuwait and Bahrain on Monday.
Earlier, Iran declared that the strait was closed after a vessel deviated from its approved route and was struck, The strait was initially closed after a vessel was struck while traveling an unauthorized route, prompting precision airstrikes against dozens of targets across multiple locations. However, President Donald Trump said on Sunday that the Strait of Hormuz is presently open to commercial transit.
A total of six vessels have passed via the Strait of Hormuz on Sunday, as per the ship-tracking data from Kpler, marking the lowest count in five weeks. Meanwhile, prior to the war erupted in late February, approximately 20 percent of the world's oil and liquefied natural gas passed through the strait. The escalating attacks cast further doubt on the future of an interim US-Iranian agreement signed last month, which aimed to reopen the strait and end the war after an additional 60 days of negotiations.
