Physical oil prices hit record highs near $150 a barrel

Global energy markets are facing a severe supply crunch as physical crude oil prices surge toward $150 per barrel. This escalation follows the worsening conflict involving the United States and Israel against Iran, which has led to the effective closure of the Strait of Hormuz. The disruption has removed approximately 12 million barrels per day from the market, representing roughly 12% of the global oil supply.