Iran, Israel and Oil
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Trump cuts short G7 trip over Middle East tensions
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The dramatic escalation in tensions between Israel and Iran caused a spike in the price of crude and raised fears among oil traders about disruption to shipping in the Strait of Hormuz, one of the world’s most vital waterways.
Amid escalating tensions between Iran and Israel, the Strait of Hormuz, a critical global oil route, has become a focal point of concern. With potential disruptions threatening global energy markets,
Global markets have remained relatively calm amid the escalating tensions between Israel and Iran. But that sentiment could quickly shift, according to experts, if the conflict affects the Strait of Hormuz.
Oil rose in early morning Asian trading amid Middle East tensions.