Oil costs surge following US military action against Iran
On Wednesday, crude oil values increased by almost 2% following the US military's execution of "powerful" strikes against Iran and the reinstatement of sanctions on its oil exports. Brent crude futures saw a 1.9% rise to reach $75.54 per barrel, while US West Texas Intermediate crude went up by $1.37, marking an approximate 2% gain to hit $71.81 per barrel. These airstrikes were conducted as retaliation for Iranian aggression against three merchant ships traveling through the Strait of Hormuz.
by shortkt.com✓