Oil prices approach Iran-war highs as soaring tanker rates trigger a second energy squeeze

AI Summary

Oil prices are nearing levels seen during the Iran conflict as surging tanker rates add pressure to global energy supply costs. Investors are weighing the risk that a wider regional war could disrupt energy flows and amplify volatility across financial markets.

Wall Street may be starting to price in the scenario everyone fears: a full-scale regional conflict that could further choke off global energy supplies and unleash a fresh wave of turmoil across financial markets.