Oil prices jump as US and Iran step up tit-for-tat strikes

🌐 Financial Times (IR) —

AI Summary

Oil prices have surged amid escalating tit-for-tat military strikes between the US and Iran, raising concerns about potential disruptions to crude oil flow through the strategically vital Strait of Hormuz. Traders remain wary of further supply constraints impacting the global market.

Traders fear escalating hostilities could further restrict the flow of crude through the Strait of Hormuz

World Security Conflict Politics Markets Commodities Energy Shipping oil prices US-Iran strikes Strait of Hormuz crude oil flow market impact energy security global trade

Read original source →