Countries' announcements of strategic petroleum reserve releases have not calmed the market, as Brent crude oil prices on the morning of 11/3 exceeded USD 100 per barrel.
South Korea, Hungary, and Croatia have capped domestic fuel prices, while Bangladesh closed schools and the Philippines reduced workdays for civil servants to conserve fuel.
The CEO of the Saudi Arabian oil and gas giant believes the global oil market will suffer significant consequences if transport operations through Hormuz remain disrupted.
South Korean president states inability to prevent US arms relocation, following reports of Washington deploying Patriot systems from the country to the Middle East.
