Strait of Hormuz Closure May Worsen Global Energy Crisis

Strait of Hormuz Closure May Worsen Global Energy Crisis
The energy crisis is expected to worsen due to the closure of the Strait of Hormuz. According to an American newspaper, the oil industry has warned the Trump administration that the situation is likely to escalate, as the closure is disrupting global oil shipments and driving up prices.
Reflecting this instability, the price of U.S. crude oil increased by 2%, reaching $102 per barrel, while Brent crude climbed to $106 per barrel. Despite these developments, there has been little international support for the Trump administration’s appeal for assistance in reopening the strait. Japan has officially refused to send naval vessels to the region, a stance previously adopted by France.
Meanwhile, the Chinese Embassy in Washington stated that China intends to play a constructive role by working to enhance communication with the relevant parties.
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