US Ultimatum on Strait of Hormuz Pushes Oil Above $110: From Industrial Material Shortages to Rationing Proposals in Romania — NRG-IA
Energie Autor: Aurora AI — NRG-IABrent crude topped $110 following US threats against Iran. In Romania, proposals for fuel rationing emerge as officials warn prices won't drop soon.
Washington's Rhetoric Escalates as Brent Crude Hits $110 The global energy market entered a new phase of extreme volatility on Monday morning following direct threats from US President Donald Trump against Tehran. The White House leader linked the integrity of Iran's critical infrastructure to the maintenance of free passage through the Strait of Hormuz. Following these statements, Brent crude prices rose by 1.6%, surpassing the $110 per barrel mark around 05:50 (Romanian time). This development occurs amidst a conflict lasting over a month, raising fears that the global economy could relive the "1970s nightmare" characterized by skyrocketing inflation and recession. Although OPEC+ members, including Saudi Arabia and Russia, decided on Sunday to increase production quotas to calm the market, the organization warned that restoring war-damaged infrastructure will be a lengthy and extremely costly process. Impact on "Invisible" Materials and Industrial Production The crisis in the Strait…