US Oil Update: Futures Rise as Vessel Attacks in Hormuz Stoke Supply Risks
() -- Crude oil futures advanced on Tuesday after two tankers were struck by projectiles while transiting the Strait of Hormuz, stoking fears of disruptions to shipping through the strategic waterway. Front-month West Texas Intermediate crude futures gained 3% to $70.61 per barrel, while Brent futures climbed 3.2% to $