Brent Oil Price Hovers Near $95 as Rubio Says U. S.
Will Continue to Protect Shipping in Hormuz The fragile standoff between the US and Iran has reached a boiling point once again, with Brent oil prices hovering near $95 per barrel amidst ongoing tensions in the Strait of Hormuz.
Secretary of State Marco Rubio's assertion that Washington remains committed to protecting shipping through the waterway is reassuring, but it remains unclear whether this will be enough to stem the rising tide of inflationary pressures on the global economy.