Yonhap Infomax NewsDubai crude oil prices surged to a record $166 per barrel amid the Strait of Hormuz blockade, with experts warning that WTI and Brent crude could follow suit as the Iran war disrupts 20% of global oil supply, creating severe market distortions and raising concerns about prolonged supply constraints in the Gulf region.
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Dubai Crude Hits $166 - Global Oil Prices Face 'Warning Light' as War Drags On
Dubai crude oil prices surged to a record $166 per barrel amid the Strait of Hormuz blockade, with experts warning that WTI and Brent crude could follow suit as the Iran war disrupts 20% of global oil supply, creating severe market distortions and raising concerns about prolonged supply constraints in the Gulf region.