Oil prices jump as US strikes Iranian tankers, stoking fears of supply disruptions and shipping risks through the Strait of Hormuz and wider Gulf region.

Brent hovers near $97 as Hormuz disruptions keep risk premium elevated

Brent crude futures climbed 52 cents, or 0.54%, to $96.80 a barrel by 2354 GMT while U.S. West Texas Intermediate crude was at $92.14 a barrel, up 66 cents, or 0.72%.

Oil prices experienced a significant rise on Monday, following a spike in tensions between the US and Iran. The US struck three Iranian oil tankers in a bold move, while Iran…