Strait of HormuzHuòěrmùzī Hǎixiá霍尔木兹海峡crisiswēijī危机to push / to drivetuīdòng推动oil priceyóujià油价to rise tozhǎng zhì涨至per barrelměi tǒng每桶$112 USD112 měiyuán112美元。
May 4, 2026 at 11:40 AM
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BusinessHormuz Crisis Drives Oil Prices to $112 Per Barrel
Brent crude oil prices rose to $112.69 per barrel on Monday due to the ongoing Strait of Hormuz crisis.
On Monday, Brent crude oil prices rose to $112.69 per barrel. US crude oil also climbed to $103.74 per barrel. The oil price increase is because the Strait of Hormuz has not fully reopened. This strait is extremely important, as much of the world's oil is transported through here. ExxonMobil's CEO stated that the market has not yet felt the full impact. The United States' energy prices have risen more than 12 percent this year.
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