Oil prices surge as US strikes Iran, reversing slide to pre-war levels
AI Summary
Oil prices surged to above $76 a barrel amid renewed violence in the Strait of Hormuz, reversing a recent downward trend. The increase reflects market concerns about supply disruptions caused by U.S. strikes on Iran and retaliatory attacks.
Brent crude rises above $76 a barrel for the first time in two weeks amid renewed violence in Strait of Hormuz.
World Markets Commodities Energy Shipping oil prices Brent crude Strait of Hormuz U.S.-Iran conflict market surge energy supply