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Story summary
- As the US–Israel conflict escalates, the Strait of Hormuz is effectively closed, intensifying the global oil crisis.
- Brent crude prices have risen by 34% to exceed $100 per barrel.
- The price surge affects products derived from crude oil, including gasoline.
- Oil refining fractionates crude into over 6,000 everyday items, using multiple high-temperature columns.
- Countries relying on oil imports face significant inflationary risks due to these developments.
