"The price of Brent oil briefly reaches $119 per barrel as Iran continues to block traffic through the Strait of Hormuz amid a US blockade on its ports."
"Trump hailed the UAE's exit from OPEC, stating, 'I think it's great... ultimately it's a good thing for getting the price of gas down, getting oil down, getting everything down.'"
"The UAE's decision to quit OPEC is seen as a sign of growing tensions among Gulf neighbors, particularly between the UAE and Saudi Arabia."
"The Pentagon has put the cost of the war so far at about $25 billion, reflecting the significant financial implications of the ongoing conflict."
Brent crude oil prices have surged, reaching $119 per barrel, as Iran blocks traffic through the Strait of Hormuz and the US enforces a blockade on Iranian ports. The Pentagon estimates the cost of the ongoing war at approximately $25 billion. President Trump praised the UAE's exit from OPEC, suggesting it could help lower oil prices. This decision reflects rising tensions among Gulf nations, particularly between the UAE and Saudi Arabia, amid an unprecedented energy crisis.
Read at www.dw.com
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