Oil Prices Surge Above $100 a Barrel for First Time Since May The oil price has broken through the $100 a barrel threshold, a level not seen since May.
The repercussions are being felt beyond energy markets, as tensions in the Middle East reach boiling point. At the heart of this surge is the Strait of Hormuz, a critical chokepoint for global oil supplies.
Disruption to shipping lanes is a real concern, and recent incidents have heightened awareness among all parties involved.