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Oil prices rise amid US and Iran tanker clashes

Oil prices climbed after the United States and Iran exchanged attacks on vessels in the Strait of Hormuz. The maritime conflict raised fears of prolonged Middle East supply disruptions.

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FILE PHOTO: A drone view of a pump jack and drilling rig south of Midland, Texas, U.S. June 11, 2025. REUTERS/Eli Hartman/File Photo

Oil prices rose more than $1 a barrel during Monday morning trade after the United States and Iran exchanged maritime attacks in the Strait of Hormuz. The escalation deepened supply disruption fears across the Middle East.
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