Reported about 8 hours ago
Oil prices decreased after an initial surge as conflicts between Iran and Israel raised concerns about potential disruptions to oil flows; however, key export infrastructure remains largely unaffected. Brent crude fell by 1.3% following significant volatility influenced by airstrikes and regional fears, particularly regarding the Strait of Hormuz, through which a significant portion of global oil is transported. Analysts predict heightened risks but note that current impacts are primarily seen in shipping rates and alternative fuel sourcing in regions like Egypt.
Source: YAHOO