Oil Advances as Strike Against Tanker in Hormuz Highlights Risks The recent surge in oil prices may have been triggered by the US Israeli conflict against Iran, but it serves as a stark reminder of the precarious balance between global energy demand and supply.
The Strait of Hormuz has become a focal point for concerns about international shipping safety, with over 20% of the world's crude oil passing through it daily.
Iran's retaliatory strikes against an Israeli owned tanker have highlighted the risks to global energy markets.