Iran votes to block Strait of Hormuz, global oil prices surge
Global oil prices surged on June 22 (local time) following Iran’s parliamentary decision to blockade the Strait of Hormuz in retaliation for the U.S. airstrikes on its nuclear facilities.
As of 6:20 p.m. Eastern Time, West Texas Intermediate (WTI) crude futures rose 4.23% to $75.83 per barrel on the New York Mercantile Exchange.
Brent crude futures climbed..