Oil prices surged approximately 2% as U.S. strikes on an Iranian military site escalated geopolitical tensions, despite ongoing talks. This rebound followed a significant drop due to expectations of a potential U.S.-Iran agreement. Analysts warn that even with a deal, normalizing shipping through the Strait of Hormuz could take months, impacting global oil markets.

Oil prices fell about 5% to two-week lows on Monday as optimism grew that the United States and Iran were moving closer to a peace deal that would reopen the Strait of Hormuz,…

Oil prices saw a jump on Tuesday. This followed U.S. military strikes in southern Iran. Tensions remain high as a deal to end the conflict appears uncertain. Iran has disrupted…