Tit-for-tat strikes undermine efforts to reopen Strait of Hormuz
Source: Financial Times
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DW NOTE
The Strait reopened five weeks ago after 110 days closed. If Iran is striking Saudi Arabia now, that ceasefire isn't on the verge of collapse — it has collapsed. Oil jumped 15% this week, but it's still 25% below last year's high because markets priced in corridor stability that no longer exists.
Oil prices hit the $100 per barrel mark early on Wednesday in Asian trade as the ongoing crisis in the Middle East has diminished hopes of U.S.-Iran talks and a return to normal oil flows soon. As of early morning trade in Europe on Wednesday, the international benchmark, Brent Crude, jumped by 2.2
Bitcoin advanced to as high as $79,700 while Brent crude topped $100 and European shares fell, leaving crypto tracking gold rather than equities.
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