Oil Rise Amid U.S.-Iran Strait Clashes
Oil prices have surged significantly, with Brent crude exceeding $90 per barrel amid escalating tensions between the United States and Iran in the Strait of Hormuz, leading to disruptions in the passage of energy shipments through the strait. Brent futures increased by 3.05%, gaining $2.69, reaching their highest level since June 11, as aerial attacks between the two sides continue to escalate. Additionally, West Texas Intermediate climbed to $84.68, the highest since June 12, reflecting heightened tensions and market concerns over the impact of the escalation on oil supplies.
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