Reported 1 day ago
Oil prices surged approximately 8% on Friday after Israel launched airstrikes on Iran, signaling a major escalation in the Middle Eastern conflict. Brent crude futures reached nearly $74 per barrel, while West Texas Intermediate traded close to $73. Israeli Prime Minister Benjamin Netanyahu announced ongoing military actions against Iran's nuclear facilities. In response, Iran threatened retaliation against U.S. assets, raising concerns over potential disruptions to oil exports in the region, especially through the strategically significant Strait of Hormuz.
Source: YAHOO