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Home›Commodities›Energy›Oil prices surge on renewed Iran and U.S. trade tensio…

Oil prices surge on renewed Iran and U.S. trade tensions

Renewed hostilities raise fresh risks for ships transiting the Strait of Hormuz, a key route for global crude supply.

Reported · Written up by our desk · Energy

Oil prices rose after renewed hostilities linked to Iran and the United States, according to reporting by The New York Times Business.

The outlet said the renewed escalation poses additional risks for vessels attempting to navigate the Strait of Hormuz, which is important for moving crude oil to global markets.

Latest closeWTI crude $71.51 ▼0.8%

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Sources

NYT BusinessOil Prices Surge After Iran and U.S. Trade Strikes

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