Global oil price rises sharply after vessel attack at Strait of Hormuz

Global oil prices surged sharply as attacks on vessels in the Strait of Hormuz slowed shipping in the Middle East region.
An oil price survey showed that Brent and West Texas Intermediate, WTI, crude blends jumped to $92 and $85.90 per barrel, respectively, at the time of reporting on Wednesday.
This means that, on a day-to-day basis, Brent and WTI rose by at least one per cent, extending their four-day rally.
Reuters, citing shipping-tracking data from Kpler, reported that just six commodity vessels transited the Strait of Hormuz on Tuesday amid heightened tensions in the Gulf region.
Reports also emerged that some ships had turned back in the Strait of Hormuz amid controversy su...