Oil prices climbed significantly on Friday, reaching their highest point in over a month. Escalating hostilities between the United States and Iran intensified attacks across the Gulf region. Shipping routes face potential closure, impacting global oil flows and prices. Saudi Arabia has redirected significant crude exports to avoid the Strait of Hormuz. Ukraine also reported striking a Russian oil refinery in its conflict.

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…

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…

Brent crude futures gained $1.05, or about 1.25%, to $85.28 a barrel while U.S. West Texas Intermediate (WTI) crude futures rose $1.03, or 1.3%, to $79.98 a barrel. The gains…

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

Oil prices rise amid US-Iran tensions threatening supply routes. Crude oil reaching a new all-time high by December 31 at 12% YES.

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

Increased disruption in the Strait of Hormuz has raised supply concerns

Oil prices surge due to US-Iran tensions and Strait of Hormuz disruptions. Crude oil reaching a new all-time high by December 31 at 13.5% YES.

Oil prices climbed significantly on Friday, reaching their highest point in over a month. Escalating hostilities between the United States and Iran intensified attacks across the…

Oil prices rallied on Monday after conflict between the United States and Iran intensified, raising fresh concerns over crude supplies from the Middle East as shipping through the…

July 20 : Oil prices rose on Monday to their highest in more than a month, with Brent crude climbing above $90 a barrel as escalating hostilities between the U.S. and Iran…

Oil prices rise amid US-Iran tensions. Crude oil reaching a new all-time high by December 31 at 12% YES.