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London, June 11 (QNA) Oil prices rose by more than $2 per barrel on Thursday after Iran announced the closure of the Strait of Hormuz, one of the world’s most important waterways for energy transport, following the recent US airstrikes.
Brent crude futures climbed $2.30, or 2.47 percent, to $95.40 per barrel, while US West Texas Intermediate crude rose $2.60, or 2.89 percent, to $92.63 per barrel.
The increase came after Iran closed the Strait of Hormuz to oil tankers and commercial vessels, warning that any ship attempting to transit the strait would be targeted.
Meanwhile, the US military affirmed that commercial shipping continues to transit through the Strait of Hormuz, denying that any of its naval vessels had come under attack. The statement came in response to Iranian media reports claiming that US ships had been targeted near the waterway. (QNA)
