Gulf tensions spike oil prices toward $100 as U.S., Iran trade attacks
Vessel and tanker strikes in the Strait of Hormuz drive crude higher and equities lower.
The U.S. and Iran have exchanged attacks on vessels and tankers in the Strait of Hormuz, according to CNBC. The escalation has sent oil prices climbing toward triple digits and stock markets declining.
The Strait of Hormuz, a critical chokepoint for global energy supplies, handles roughly one-third of the world's seaborne petroleum trade, making regional tensions there highly sensitive to commodity and financial markets.
Sources
- CNBC Daily Open: Gulf strikes jolt oil toward triple digits — CNBC — Top News
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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