Oil Settles Higher on US Iran Strikes
Oil prices rose one percent following renewed military strikes between the United States and Iran that restricted global supplies. The conflict has severely disrupted shipping traffic in the Strait of Hormuz.
Xurve View
Insights:
Xurve View
Brent Crude Oil rose 1% to settle at $95.63 a barrel during Wednesday's trading session, driven by renewed military exchanges between the United States and Iran. The conflict has entered its seventh month, threatening vital petroleum supply routes across the Middle East. Energy markets are reacting to the largest exchange of strikes between Washington and Tehran since July, which has heightened concerns over physical crude flows.
