US crude jumps 15% this week as Iran strikes and Red Sea threat grow
Part of composite article Oil Hits $100 as Houthi Tanker Strikes and U.S.-Iran Threats Rattle Markets 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.