Oil markets surged following a military escalation in the Middle East, where a strike on an island in the Strait of Hormuz triggered a direct response from Iran in Jordan. The strategic waterway, a critical chokepoint for global oil shipments, saw tensions flare as both sides exchanged attacks, raising concerns over supply disruptions. Analysts warn the incident could tighten crude supplies and push prices higher amid already volatile energy markets. Traders are closely monitoring developments as the conflict risks spreading further in the region.
Oil prices rise after American military hits an island in the Strait of Hormuz and Tehran retaliates in Jordan
