Many market participants predicted that this week the price of oil would reach the $100/barrel mark. In the end, it took about a minute for the price to jump 10%, and another 15 minutes later it rose another 10% in early trading in Asia, the BBC reported.
Markets remained relatively calm last week, although millions of barrels of oil and liquefied natural gas were blocked in the Persian Gulf due to problems with passage through the Strait of Hormuz.
