Oil hits four-week high as U.S.-Iran conflict escalates

Oil prices rose to their highest in four weeks after the U.S. reimposed a naval blockade of Iran. Renewed attacks between Washington and Tehran increased concerns about energy flows through the Strait of Hormuz, likely adding a meaningful geopolitical risk premium to crude.

Analysis

Oil prices rose to their highest in four weeks after the U.S. reimposed a naval blockade of Iran. Renewed attacks between Washington and Tehran increased concerns about energy flows through the Strait of Hormuz, likely adding a meaningful geopolitical risk premium to crude.