Oil prices have risen sharply amid escalating confrontation between the US and Iran around the Strait of Hormuz and the mutual detention of commercial vessels.
Modern.az reports that the price of "Brent" oil, considered a global benchmark, has exceeded 106 dollars per barrel. As of Friday, the price reached 106.80 dollars, which is 5% higher than on Wednesday.
The price increase comes amid rising tensions around the main energy supply route, through which a significant portion of the world's oil is transported.
