Oil prices jump over 2% as U.S.-Iran tensions escalate over Strait of Hormuz shipping concerns
By
Lee Ying Shan
Crisp on the outside, thoughtful on the inside. A keeper.
Summary
Oil prices surged over 2% after fresh U.S. strikes in Iran raised concerns about potential disruptions to commercial shipping through the Strait of Hormuz. Brent crude rose 2.14% to $96.31 per barrel, while WTI gained 2.2% to $90.63. Iran's Revolutionary Guards claimed they targeted a U.S. airbase, escalating geopolitical tensions in the region.
Key quotes
· 3 pulledOil prices rose on Thursday after fresh U.S. strikes in Iran renewed concerns over disruptions to commercial shipping through the Strait of Hormuz.
Brent crude futures, the international benchmark, were up 2.14% to $96.31 per barrel by 5:06 a.m. ET, easing from earlier gains of more than 3%
Iran's Revolutionary Guards said on Thursday that they had targeted a U.S. airbase at around 4:50 a.m.
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