Russian Deputy PM Warns Prolonged Hormuz Crisis to Push Oil Prices Higher

Russian Deputy PM Alexander Novak stated that a prolonged crisis in the Strait of Hormuz would drive oil prices higher, signaling potential supply disruption concerns. The statement is a warning rather than a new event, but it underscores the market's sensitivity to Hormuz-related risks. The actual impact depends on the duration and severity of the crisis, which remains uncertain.