“The current conflagration is a reminder to the market of how fragile passage through the Strait still is,” analyst says.

TOKYO, July 8 : Oil prices climbed nearly 2 per cent on Wednesday after the U.S. military launched airstrikes against Iran and reimposed crude sales sanctions, raising fears their…

Traders brace for potential export disruptions as tensions flare around Hormuz

Brent crude futures climbed $1.62, or 2.16%, to $76 a barrel, while U.S. West Texas Intermediate crude gained $1.63, or 2.31%, to $72 a barrel. Both benchmarks had already…

Oil prices extended a surge on Wednesday as the Middle East crisis burst back into the spotlight with US forces launching fresh strikes on Iran after an attack on three vessels in…

Brent crude rises above $76 a barrel for the first time in two weeks amid renewed violence in Strait of Hormuz.

Brent crude rises above $76 a barrel for the first time in two weeks amid renewed violence in Strait of Hormuz.

Global oil prices spiked over 5% after US military strikes on Iran, intensifying West Asia tensions and threatening the security of the vital Strait of Hormuz shipping route.

“The current conflagration is a reminder to the market of how fragile passage through the Strait still is,” analyst says.