Oil prices continued to rise on Tuesday, hitting their highest levels in a month, as an escalating pattern of strikes and counterstrikes between the United States and Iran rattled markets.
Brent oil, the international benchmark, broke $85 a barrel for the first time in a month. Analysts at Eurasia Group said shipping traffic in the Strait of Hormuz was likely to drop from 30 to 50 percent of pre-war flows before the latest outbreak of fighting to just 5 to 15 percent of pre-war levels. As a result, they expect oil to trade at a price of up to $95 per barrel. barrel due to the disturbances.
