Strait of Hormuz not open, Abu Dhabi’s oil chief says as crude prices rise
by Julia Kollewe from World news | The Guardian on (#74TDR)
Uncertainty over US-Iran ceasefire pushes price of Brent crude towards $100 a barrel
The boss of Abu Dhabi's state-owned oil company has said the strait of Hormuz is not open" despite the US-Iran ceasefire agreed earlier this week, as uncertainty over the truce pushed the price of Brent crude towards $100 a barrel on Thursday.
Sultan Al Jaber, the chief executive officer of the Abu Dhabi National Oil Company (Adnoc), said passage through the crucial waterway was subject to permission, conditions and political leverage" by Iran. He said energy security and global economic stability depended on the strait being opened fully, unconditionally and without restriction".
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