Brent Crude Rises 5 Percent After Iran Naval Incident
Brent crude rose to $113.65 after Iran reported a naval incident with a U.S. warship. Markets fell as investors weighed geopolitical risks and inflation fears.
Xurve View
Insights:
Xurve View
Iran's navy claiming it blocked a United States warship sent Brent Crude Oil up 5% to $113.65 on Monday morning. The geopolitical flare-up in the Strait of Hormuz reversed an earlier decline in oil prices during Asian trading. Investors are weighing supply risks against softening global growth and persistent inflation concerns.
