Reported about 22 hours ago
Oil futures saw a significant rise following Israel's military actions against Iran, yet no oil facilities in Iran were reported to be affected. Ultra low sulfur diesel jumped to $2.3587 per gallon, marking its highest settlement since late February, while Brent crude and West Texas Intermediate also experienced notable price increases. Despite fears of potential disruptions, analysts expressed skepticism about an actual closure of the Strait of Hormuz, vital for global oil transport, emphasizing market reactions driven more by speculation than immediate supply threats.
Source: YAHOO