Oil prices rise to record level after Iran launches attacks on tankers near strait of Hormuz

According to The Guardian, oil prices have jumped to their highest level in weeks after a series of attacks on tankers near the strait of Hormuz. Brent crude, the global benchmark, rose about five percent on Wednesday to more than seventy-eight dollars a barrel — the sharpest increase since a ceasefire between the United States and Iran took hold last month. In the wake of the attacks, US President Donald Trump declared that the ceasefire deal with Iran is, in his word, over.

Listen to this story

Hear this and more stories in a personalized audio briefing.

Open The Chonkerton