Reported 5 days ago
Iran's missile strike on Israel has reignited worries about oil supply disruptions, prompting a rise in crude prices over 5%. Analysts note that while the market previously held bearish views, the escalation of hostilities could significantly impact oil prices, particularly if Iran retaliates or obstructs key shipping routes like the Strait of Hormuz. Predictions indicate a potential price surge of $7 to $28 per barrel depending on the developments, underscoring a volatile geopolitical landscape affecting energy markets.
Source: YAHOO