DID Press: Amid escalating tensions between Iran and US during the ongoing Iran–Israel conflict, crude oil prices surged to $116 per barrel, highlighting a deepening global energy crisis.
International media report that Iran has accused the U.S. of preparing for military action, heightening fears of a broader regional conflict. This situation has disrupted roughly 20% of the global oil and liquefied natural gas (LNG) supply, marking one of the most severe energy crises in recent decades.
Experts warn that if the Strait of Hormuz remains closed, oil prices could climb further to $120 per barrel. The strait is one of the world’s most critical energy transit routes.
Meanwhile, U.S. President Donald Trump has proposed a 15-point peace plan, which Tehran has rejected.