Oil prices rise 3% as Iran-U.S. tensions escalate over airbase strike claims
By
Lee Ying Shan
All dough, no crust. Filling but forgettable.
Summary
Oil prices rose 3% after Iran claimed it targeted a U.S. airbase in response to fresh American strikes, escalating tensions in the Middle East and renewing concerns about disruptions to commercial shipping through the Strait of Hormuz.
Key quotes
· 1 pulledOil prices rose on Thursday after fresh U.S. strikes in Iran renewed concerns over disruptions to commercial shipping through the Strait of Hormuz.
You might also wanna read
Oil prices surge above $100 despite IEA reserve release amid Gulf tensions
Oil prices surged above $100 per barrel despite the International Energy Agency's announcement to release record amounts of oil reserves. Th
bbc.com·2mo ago
Brent crude oil surges past $116 as Iran conflict, UAE OPEC exit, and US inventory declines drive prices
Brent crude oil futures surged over 7% to nearly $120 per barrel, the highest level since June 2022, driven by the ongoing Iran conflict, th
tradingeconomics.com·1mo ago
Container shipping rates surge 16% as Hormuz crisis drives up fuel costs
The Hormuz crisis, stemming from the Middle East conflict and effective closure of the Strait of Hormuz, is causing a sharp rise in containe
lloydslist.com·1d ago
Iran Claims Responsibility for Tanker Attacks in Iraqi Waters, Escalating Regional Maritime Conflict
Iran has claimed responsibility for attacks on two oil tankers in Iraqi territorial waters, escalating regional conflicts and expanding stri
lloydslist.com·2mo ago
Oil and Gas Prices Surge, Stock Markets Decline After Iranian Strikes Hit Middle East Energy Infrastructure
Oil and gas prices surged and global stock markets declined after Iranian strikes hit key energy infrastructure in the Middle East, includin
bbc.com·2mo ago
Oil and gas prices surge after Iran-Israel attacks on gasfields disrupt global energy supplies
Gas prices hit four-year highs and oil prices surged after Iran and Israel attacked gasfields, raising fears of prolonged energy supply disr
theguardian.com·2mo ago