Oil prices jump on tanker attack and slowing flows through Strait of Hormuz

AI Summary

Oil prices rose after a tanker attack and a sharp decline in traffic through the Strait of Hormuz, following a recent recovery to nearly 90% of prewar levels. The disruption highlights risks to oil shipments through a critical global chokepoint.

Transit through vital waterway rose close to 90% of prewar levels last month but has since fallen sharply