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Oil prices rise 3% as Iran crisis disrupts Middle East supply
LONDON: Oil prices rose 3 percent on Wednesday as the US-Israeli war on Iran disrupted Middle East supplies, but the pace of gains slowed from past sessions after President Donald Trump suggested the US Navy could escort vessels through the Strait of Hormuz. Brent rose $2.67, or 3.3 percent, to $84.07 a barrel by 9:59 a.m. Saudi time, after closing on Tuesday at its highest since January 2025. US West Texas Intermediate crude rose $2.24, or 3 percent, to $76.8, after settling at its highest since June. Both benchmarks have risen about 5 percent or more in the past two sessions.
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theguardian.com
Oil prices jump as Iran war threatens shipping through strait of Hormuz
Brent crude rose by 13% during early trading and stock markets came under pressure as US-Israeli strikes on Iran raised fears of disruption
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cnbc.com
Oil soars amid Strait of Hormuz shipping fears as Iran war drives prices to nearly $80
The conflict in the Middle East has sent oil prices soaring, as Brent Crude hit a new 52-week high on Monday.
