Trump Says Truce With Iran Is ‘Over' And Blasts European Allies At NATO Summit

Crude prices jumped as renewed conflict risk and possible disruption in the Strait of Hormuz boosted global oil benchmarks. Brent Crude Futures surged above $79/bbl, up from around $72 earlier in the week (≈+$7, or ~10%), raising near-term energy cost and risk premia.

Analysis

Crude prices jumped as renewed conflict risk and possible disruption in the Strait of Hormuz boosted global oil benchmarks. Brent Crude Futures surged above $79/bbl, up from around $72 earlier in the week (≈+$7, or ~10%), raising near-term energy cost and risk premia.