Brent Crude Surges Above $83 as Strait of Hormuz Tensions Escalate

Oil prices continued to rise on Friday, with Brent crude surpassing $83 per barrel, as tensions over the Strait of Hormuz remained high.

The uncertainty surrounding shipping through the strategic waterway has revived concerns about global crude supplies, despite ongoing diplomatic efforts involving Iran, Oman, and the United States.

According to reports, Tehran is seeking tighter control over shipping through the Strait, which could limit oil flows and push prices higher.