Oil Prices Jump After Iran-U.S. Strikes Hit Key Shipping Route

Renewed hostilities between Iran and the United States have raised new dangers for ships traveling through the Strait of Hormuz. That narrow waterway is a critical passage for global oil shipments. As a result, oil prices surged on Monday. Traders worry that any disruption to tanker traffic there could tighten supplies. The situation remains tense, with both nations trading strikes over the weekend. No major shipping incidents have been reported yet, but analysts warn that the risk of delays or attacks is now significantly higher.