Oil gains over 1% after vessel attacks near Strait of Hormuz

Oil prices rose Tuesday after reports of attacks on vessels near the Strait of Hormuz renewed fears of shipping disruptions through the key energy chokepoint. The news raises near-term risk to crude supply logistics and reinforces a geopolitical risk premium for energy markets.

Analysis

Oil prices rose Tuesday after reports of attacks on vessels near the Strait of Hormuz renewed fears of shipping disruptions through the key energy chokepoint. The news raises near-term risk to crude supply logistics and reinforces a geopolitical risk premium for energy markets.