Crude jumps as U.S. and Iran attacks intensify, Strait of Hormuz stays closed
Crude oil prices surged as the U.S. and Iran continued attacks amid the Middle East conflict, reducing expectations for reopening the Strait of Hormuz and renewing long-term inflation concerns.
S. and Iran continued to trade attacks, extending the Middle East conflict and reducing investors’ expectations for the Strait of Hormuz to reopen. The move renewed long-term inflation concerns.