WTI crude oil prices jumped over 2% in the pre-market session amid rising geopolitical tensions in the Middle East, sparking fears of a significant supply disruption. Reports indicate the U.S. military struck several Iranian oil tankers in response to attempted missile attacks on a U.S. warship. In retaliation, Iran targeted a U.S. base and issued warnings to commercial vessels in the Persian Gulf. Additionally, Iran-backed Houthi militants attacked Saudi energy facilities, further heightening concerns about the stability of oil flows from the critical region.
Crude Oil Surges on Escalating Middle East Tensions
Crude oil sector
Related News
CL=F
Iraq Formally Requests OPEC to Increase Production Quota to 6 Million BPD
CL=F
Bank of Japan Hikes Rates, Sinking Oil Prices on Dollar Strength
CL=F
Crude Oil Prices Tumble as Saudi Supply Fears Subside
CL=F
Crude Oil Tumbles as Saudi Supply Disruption Fears Ease
CL=F