Samia al - Faqi
Oil prices rose on Thursday; following Iran ' s announcement of the closure of the most important sea lane of energy transport, following new American strikes.
This development has brought back concerns about supply security and prompted markets to react quickly to the military escalation between Washington and Tehran, in the midst of indications that tension may be moving towards a wider confrontation in the region.
The daily World Petroleum Price Report of the General Egyptian Petroleum Authority on its satellite page on social networking sites indicated today that World Petroleum crude prices recorded $94.05 per barrel, the United States Intermediate Texasas crude record of $91.12 per barrel, and the fifth or brick record of $98.92 per barrel.
