Oil's Rollercoaster Ride: What's Behind the Latest Price Swings?
The Strait of Hormuz, a narrow waterway in the Middle East that connects the oil rich Persian Gulf to the global economy, has been at the center of a high stakes game of geopolitical cat and mouse.
The uncertainty surrounding the US Iran conflict has sent oil prices on a wild ride, with Brent crude plummeting 0. 1% to $US79. 45 a barrel.