Oil Prices Rise Above $100; Tensions High in Persian Gulf
Oil prices have risen significantly, with Brent crude now trading above $100 per barrel (103.28 dollars with a 1.3% gain). The increase is driven by geopolitical tensions in the Strait of Hormuz and lack of progress in negotiations between the United States and Iran. An article also documents the hypocrisy of President Erdoğan, who has sharply criticized Israel over the Gaza crisis, while Azerbaijani oil meets Turkish energy needs via Turkmenian pipelines.