Oil Prices Rise Amid Renewed US-Iran Strikes and Strait of Hormuz Disruptions
Oil prices rose following renewed US-Iran strikes that disrupted shipping through the Strait of Hormuz, a key route for global energy supplies. Brent crude futures increased to $72.51 per barrel, while US WTI crude also gained. Despite reports of halted hostilities and renewed talks, analysts warn that supply recovery may take months due to damaged infrastructure, shipping delays, and ongoing regional tensions. Saudi Aramco has resumed loadings, but recent incidents continue to affect market stability.