Crude oil prices surged on Monday as concerns on oil supply disruptions mounted after the sharp decline in vessel movements through the Strait of Hormuz. Brent Crude oil prices traded near 90 dollars per barrel and WTI Crude oil traded near 84 dollars per barrel (at the time of filing this copy). Global oil expert and CEO-Australia, Trading.com Peter McGuire had earlier told Times Now Digital, “tempers are rising, US is not going to back down, stakes are rising- impact on oil supplies will be seen more in Asia-China, Japan and India more than anywhere else. See the big picture to be alright, will be in wait and watch mode for how the US-Iran situation continues to unfold.”
