Oil Climbs as Strait of Hormuz Deal Prospects Unclear

Oil extended gains after reports Iran attacked “hostile targets” in the Strait of Hormuz and will seek to bar US and Israeli ships from the waterway. The escalation raises disruption risk for Middle East crude flows, supporting higher prices despite the geopolitical uncertainty.

Analysis

Oil extended gains after reports Iran attacked “hostile targets” in the Strait of Hormuz and will seek to bar US and Israeli ships from the waterway. The escalation raises disruption risk for Middle East crude flows, supporting higher prices despite the geopolitical uncertainty.