Black gold prices are now taking off again today at the start of trading in Asia, with that of a barrel of WTI jumping, rising by more than 7%, after the US military’s capture of an Iranian cargo ship and as Iran continues to cause paralysis to ship traffic in the Strait of Hormuz.
As of 02:30 (GMT), the price of a barrel of West Texas Intermediate (WTI), the US benchmark variety, was up 7.67% at $90.28, while that of North Sea Brent, the international benchmark variety, was up 6.76% at $96.49.
