The region supplies 20% of global liquefied natural gas (LNG) via the Strait of Hormuz. Brent crude oil reached $91 per barrel earlier in April, compared to the 2015-2019 average of $34 more.
Oilprices declined on Monday, with the global benchmark touching their lowest levels since late March, as concerns eased that the geopolitical tensions in the Middle East would disrupt the oil ...