After the United States and Israel launched military operations against Iran, the Strait of Hormuz was closed, causing global oil prices to rise to their highest level in 19.5 months and severely disrupting oil transportation for the BRICS countries. In April, WTI crude oil futures closed up 8.51% at $6.35 per barrel, with Goldman Sachs estimating its risk premium at $18 per barrel. This crisis is testing the BRICS countries' energy security and their de-dollarization process, as key export routes are blocked, and over 290 million barrels of Russian and Iranian crude oil remain stranded on floating storage facilities at sea.

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