BUSINESSApr 8 · 22:01 UTCBLOOMBERGRong Wei Neo, Yongchang Chin

Oil Rises After Biggest Drop Since 2020 as Hormuz Stays Blocked

Oil prices rose after the largest drop since 2020, driven by ongoing blockage of the Hormuz Strait. The Permian Basin, located in Texas and New Mexico, remains North America's most productive shale region.

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Permian BasinplaceHormuzplaceUnited StatescountryTexasstateNew MexicostateCraneplace

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