Oil Prices Soar Amid Strait Tensions | Business and Finance News

Oil prices are surging as U.S.-Iran tensions flare over attacks on tankers in the Strait of Hormuz, sending Brent and WTI crude up nearly 10% last week amid fears of disrupted Middle East supply. The weekend saw U.S. strikes on Iranian vessels, prompting Iran’s Revolutionary Guard to retaliate — marking a dangerous escalation where commercial ships are now pawns in an economic standoff. Ship traffic through the strait has plummeted to its lowest since May, with Iran threatening to establish a restricted zone nearby. OPEC+ holds steady on output for October, waiting for clarity before adjusting quotas, while analysts warn this conflict could delay Middle East supply recovery for years — tightening global trade routes and rattling markets. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/bf2ee9afdb51c1bd