Wall Street, July 17 — JMH International Consortium of Journalists Oil prices surged by nearly 5%, climbing above $95 per barrel after renewed U.S. attacks against Iran and rising tensions in the Strait of Hormuz. The strategic waterway is one of the world's most important energy routes, as roughly 20% of global oil supplies pass through it. The Strait of Hormuz can be compared to the exit door of a large store: if the door is closed, the products cannot leave. As many oil tankers avoid the area due to security concerns and the threat of further attacks, the supply of crude oil becomes more limited. When an essential commodity becomes scarce, its price generally rises.
Wall Street, 17 de julio — Consorcio Internacional de Periodistas JMH El precio del petróleo subió con fuerza, cerca de un 5 %, y superó los 95 dólares por barril. Oil prices surged by nearly 5%, climbing above $95 per barrel after renewed U.S. attacks against Iran and rising tensions in the Strait of Hormuz.