US Oil Update: Futures Extend Gain as US Enforces Strait of Hormuz Blockade
() -- Oil prices surged on Tuesday after the US launched strikes on Iran and enforced a naval blockade of Iranian ports, escalating regional conflict and threatening energy shipping through the Strait of Hormuz. Brent crude futures jumped 3.5% to $86.24 per barrel and hit their highest since June 12. West Texas Interme