Reported 3 days ago
Oil prices surged more than 5% on Thursday, driven by concerns of potential supply disruptions following President Biden's comments on Israeli military actions against Iran. West Texas Intermediate futures rose to $73.71 per barrel, while Brent crude increased to $77.76, fueled by fears that retaliatory strikes could target Iranian oil facilities, exacerbating already tense conditions in the Strait of Hormuz.
Source: YAHOO