Oil prices climb amid U.S. Iran strikes

Oil prices rose significantly after growing concerns over supply disruptions following the U.S. forces' announcement of a new wave of strikes on Iranian military targets, aimed at undermining Iran’s ability to threaten shipping in the Strait of Hormuz. West Texas Intermediate crude jumped by 1.07%, reaching $85.24 per barrel, while Brent crude increased to $92.19, up by 1.30%. These increases came in response to Iranian retaliatory attacks against the U.S. strikes, focusing on southern and western Iran as well as American facilities in the region, reflecting a escalation in tensions between Washington and Tehran.

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