Kathmandu. Crude oil prices have been rising since the US and Israel attacked Iran. In the international market, the price of crude oil has reached more than $ 110 per barrel. This is the highest in 4 years.
Crude oil prices have soared since the closure of the Strait of Hormuz, one of the world’s most important routes for oil and gas supplies. The waterway is closed due to the ongoing war between the US, Israel and Iran.
Brent crude oil rose 18% to $108.68 a barrel. U.S. oil WTI rose nearly 20% to $110 a barrel.
This is the biggest increase in crude oil prices since Russia’s invasion of Ukraine in February 2022. At that time, the price of crude oil had risen above $ 100 per barrel.
