Oil Surges as Kharg Attack Raises Stakes in Mideast Conflict

The Iran war has produced the worst supply disruption in oil-market history, driving crude prices sharply higher since the conflict began. Storage tanks at Valero's Houston refinery illustrate heightened supply-chain and refining stress. Expect elevated market volatility, risk-off positioning and potential inflationary and energy-market spillovers.

Analysis

The Iran war has produced the worst supply disruption in oil-market history, driving crude prices sharply higher since the conflict began. Storage tanks at Valero's Houston refinery illustrate heightened supply-chain and refining stress. Expect elevated market volatility, risk-off positioning and potential inflationary and energy-market spillovers.