BP leads FTSE risers as oil prices spike after new US strikes on Iran

Crude prices jumped to a two-week high after fresh US military strikes on targets in Iran reignited concerns about energy supply through the Strait of Hormuz. BP and other London-listed oil producers led gains in early trading, likely reflecting improved near-term pricing power while geopolitical supply-risk remains a headwind for broader sentiment.

Analysis

Crude prices jumped to a two-week high after fresh US military strikes on targets in Iran reignited concerns about energy supply through the Strait of Hormuz. BP and other London-listed oil producers led gains in early trading, likely reflecting improved near-term pricing power while geopolitical supply-risk remains a headwind for broader sentiment.