It comes as Iranian attacks on ships intensify in the crucial Strait of Hormuz waterway.

The Strait of Hormuz, through which roughly one-fifth of the world's oil and liquefied natural gas typically passes, is virtually shut.

Oil prices drop to $87.80 amid IEA's emergency talks and focus on the critical Strait of Hormuz amidst ongoing conflict.

It comes as Iranian attacks on ships intensify in the crucial Strait of Hormuz waterway.

Vast release of emergency crude reserves fails to quell mounting fears around energy supply crunch, rattling global markets

BEIJING/SINGAPORE: Oil prices jumped on Thursday as Iran stepped up attacks on oil and transport facilities across the Middle East, raising fears of a prolonged conflict and…

Oil prices climbed back above $100 per barrel Thursday after attacks on commercial shipping in the Persian Gulf raised fears of further disruptions to global energy supplies.

Energy markets remain on tenterhooks as the prospect of prolonged war in the Middle East grows.