Oil jumps 2% on US strikes and Iran threat
Oil prices rose by more than 2% after U.S. military strikes on Iran and Iran's closure of the Strait of Hormuz, which led to the halt of all ship crossings and increased tensions in the supply market. Brent crude surpassed $95 per barrel, and Texas crude climbed near $93 before dropping back after Washington ended its military campaign, amid escalating tensions with Iran, which targeted ships and drones, threatening the continuity of global oil supplies. The crisis is characterized by a tension between diplomatic escalation and military hostility, with expectations of prolonged market instability and rising energy prices.
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