Crude oil price increases by 10%
Due to tensions in the Middle East, the price of Brent crude oil has increased by 10% to $80 per barrel. Experts predict that it could increase further to $100. Oil tankers passing through the Strait of Hormuz sea route have been stopped due to Iran's warnings. Companies transport 20-30% of the world's oil and LNG through this route. Now that transportation has stopped, there is a chance that petrol and diesel prices will increase.
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