Oil Rises as US Iran Strikes Threaten Supplies
Brent crude prices rose during a volatile session driven by renewed military strikes between the United States and Iran. The ongoing conflict has restricted global oil supply and impacted transit through the Strait of Hormuz.
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Brent Crude Oil rose 25 cents to $94.90 a barrel on Wednesday morning after renewed military exchanges between the United States and Iran restricted global energy supplies. The regional conflict has entered its seventh month, threatening vital maritime trade through the Strait of Hormuz. Energy markets face heightened volatility as tanker traffic drops and global crude reserves dwindle.
