Oil prices rise amid US-Iran tensions in Hormuz Strait
pre-market1 source ↓written by the desknot a recommendation
- prices surged
- 3%
- per barrel
- $100
- of the world's
- 20%
- before the conflict
- $70
Oil prices surged nearly 3% to around $100 per barrel after the US and Iran exchanged fire in the Strait of Hormuz, a crucial passage for global oil supply. The US conducted self-defense strikes, claiming Iranian attacks were unprovoked. The situation remains tense, impacting market sentiment amid ongoing geopolitical risks. ⚡
• Over 20% of the world's oil passes through this strait.
• Oil was trading at about $70 before the conflict began.
Traders should monitor further developments closely.
Not investment advice. For informational purposes only.