Global oil prices moved higher at the start of the week after renewed geopolitical tensions in the Middle East triggered concerns over energy supplies. Brent crude rose above $81 per barrel, while West Texas Intermediate (WTI) traded near $79, following reports that Iran had once again closed the strategically important Strait of Hormuz.
The Centre on Thursday reassured consumers that fuel and cooking gas supplies remain stable across the country despite global attention on energy markets following the recent US-Iran peace agreement.
