Hormuz Crisis Keeps Oil Prices Elevated Amid Global Uncertainty

Asian shares were mixed on Tuesday as uncertainty persisted over when the Strait of Hormuz could reopen and get the global flow of crude going again. Oil prices held steady after jumping 5% the day before due to concerns about the impact of the ongoing crisis in the Middle East.

The Strait of Hormuz is a critical waterway for oil exports, and its closure has sent shockwaves through the global energy market. The uncertainty surrounding when it will reopen has kept investors on edge, leading to a surge in oil prices over the past 24 hours.