The Strait of Hormuz remains "unopened," and the "world's most important spot oil price" has risen to $147, setting a historic record!
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The ceasefire agreement has not cleared critical shipping lanes, sending the physical oil market into a supply crisis.
On Thursday, as European and Asian refiners scrambled for North Sea spot crude, the benchmark price for North Sea Forties Blend surged to nearly $147 per barrel. According to LSEG data, this
