Brent Crude Surges 13% as Israel-Iran Tensions Threaten Oil Supply
Key Points
- Oil prices are spiking as geopolitical tensions rise between...
When 20% of the world's oil supply depends on ships squeezing through a narrow waterway that's suddenly become a potential war zone, oil traders develop a peculiar form of anxiety. Brent crude has jumped over 13% this past week as Israel and Iran trade increasingly unfriendly gestures, with the Strait of Hormuz looking less like a shipping lane and more like a geopolitical chess board.
The market's reaction follows the classic "oh no, what if" playbook. Israeli airstrikes on Iranian nuclear facilities have analysts calculating exactly how high oil prices could soar if Iran decides to make shi...
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