Triple-digit oil prices may become new normal – Analyst

Global energy markets are bracing for a prolonged period of high costs as extreme supply tightness and geopolitical brinkmanship threaten to cement triple-digit oil prices as the “new normal.” Following the collapse of critical diplomatic talks and a looming U.S. blockade of the Strait of Hormuz, Brent crude has surged to roughly $104 a barrel.

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