Oil Prices Jump 4% Amid Exchange of Strikes Between America and Iran
The approximately 4% increase in oil prices came shortly after Iran escalated its attacks in the region, with Brent futures rising to $79.13 per barrel and West Texas Intermediate to $74.36, amid tensions between the United States and Iran over the Strait of Hormuz and energy shipments. It was noted that the number of ships passing through the strait dropped to its lowest level in five weeks, while attacks and counter-attacks intensified, impacting the oil market and raising expectations of repercussions on the peace agreements.
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