“The potential threat of the Red Sea becoming another major supply disruption point is further complicating the global oil outlook,” says analyst.

PERTH, July 17 : Oil prices inched higher on Friday after the U.S. and Iran stepped up attacks across the Gulf, with their broken truce limiting oil flows out of the Strait of…

LONDON, July 17 : Oil prices rose by about 2 per cent on Friday after the U.S. and Iran stepped up attacks across the Gulf, with shipping threatened by a potential Red Sea closure…

Oil prices climbed as renewed US-Iran attacks raised concerns over Strait of Hormuz and Red Sea supplies, pushing Brent above $85 a barrel.

Increased disruption in the Strait of Hormuz has raised supply concerns