Saudi Aramco has set a new record premium for its crude oil sales to Asian buyers. The decision comes amid ongoing disruptions in the Strait of Hormuz, which are significantly impacting global energy markets.
The crisis in the Strait of Hormuz, influenced by Iran’s actions, has disrupted oil flows from the Persian Gulf. This disruption has led to a notable increase in global oil prices.
The increase in crude prices is also contributing to a surge in fuel prices across continents, affecting consumers and industries alike.
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