US crude jumps 15% this week as Iran strikes and Red Sea threat grow
Part of composite article Oil Prices Explode 15% This Week After U.S. Bombs Iran’s Island and Strait of Hormuz Turns Deadly View full article →
U.S. crude oil prices surged 15% this week, driven by escalating military attacks between the United States and Iran and growing fears that the Red Sea shipping route could be shut down. The Red Sea is a key waterway for global oil tankers. A shutdown would disrupt supply chains and push prices higher. Analysts say the conflict shows no signs of cooling, keeping energy markets on edge.