Oil Prices Rise 2% as Concerns Grow Over Strait of Hormuz Disruption
Global oil prices increased amid growing concerns about potential disruptions in the Strait of Hormuz, a key route for global energy supplies.
The price of West Texas Intermediate Crude Oil rose by **2 percent**, reaching **$102 per barrel**. Meanwhile, Brent Crude Oil climbed to **$106 per barrel**.
Major oil companies have warned the Trump Administration that the global energy crisis could worsen if tensions continue.
According to a U.S. newspaper report, the heads of major energy companies including ExxonMobil, Chevron Corporation, and ConocoPhillips cautioned that a closure of the Strait of Hormuz could significantly intensify the energy crisis.
Experts say that any disruption in the strait could affect **global oil supply chains and push prices even higher**, as the waterway is one of the world’s most critical routes for oil transportation.
