Oil Prices Surge Amid US-Iran Tensions Over Strait of Hormuz

oil prices Strait of Hormuz US-Iran conflict

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Oil prices rose sharply Sunday evening as the US and Iran engaged in retaliatory strikes, contesting control of the vital Strait of Hormuz.
US crude futures climbed 4.1% to $74.33, while Brent gained 3.88% to $78.96 amid escalating military actions.

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Oil prices rose sharply Sunday evening as the US and Iran engaged in retaliatory strikes, contesting control of the vital Strait of Hormuz. US crude futures climbed 4.1% to $74.33, while Brent gained 3.88% to $78.96 amid escalating military actions.

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oil prices

TemasStrait of Hormuz US-Iran conflict military strikes energy security maritime trade

This article was originally published by CNBC World.

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