Brent crude surpasses $70 a barrel amid US threats to strike Iran

The price of a barrel of Brent crude oil rose to more than $70 for the first time since last September, amid US threats to strike Iran.
The threats issued by Washington to launch military strikes against Tehran have raised serious concerns among investors and traders about disruptions to energy supplies in the Middle East region, which is the main artery of global oil.
This rise is driven by political and security uncertainty, as oil futures contracts await any on-the-ground repercussions that may affect shipping in the Strait of Hormuz, the most important waterway for crude oil tankers.