Oil prices hovered around the $100 per barrel Monday
The U.S. president ordered strikes Friday against Iranian military assets on Kharg Island
The East-West pipeline is estimated to have a total design capacity of 7 million barrels per day
Tanker traffic through the Strait remains at a standstill
West Texas Intermediate futures climbed 5% to around $87 per barrel
Crude oil prices embedded an estimated $18 per barrel real-time risk premium
Tuesday’s temporary closure of the waterway was aimed at ensuring shipping safety
Iran’s parliament voted to approve a closure of the Strait of Hormuz on Sunday
Commanders put American troops on high alert at military bases