AssetID: 55837198
Headline: UNCAPTIONED: Oil Jumps Over 3% As US-Iran Tensions Escalate
Caption: Oil Jumps Over 3% As US-Iran Tensions Escalate. Oil prices rose more than 3% after the U.S. and Iran exchanged military strikes, raising fears the fragile ceasefire could collapse. Brent crude climbed above $76 a barrel, while U.S. West Texas Intermediate rose above $72. The gains followed Washington's decision to reimpose sanctions on Iranian crude sales, reversing a temporary waiver. The U.S. said its strikes were launched in response to Iranian attacks on commercial vessels transiting the Strait of Hormuz. Iran’s Revolutionary Guards later said they targeted U.S. military sites in Bahrain and Kuwait. The latest attacks have renewed concerns over shipping through the Strait of Hormuz, a key route for around one-fifth of the world's energy supplies. Analysts warned that continued disruption to tanker traffic could tighten global oil supplies and push prices even higher. U.S. crude inventories also fell last week, adding further support to rising oil prices. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current Affairs & Politics,oil prices,Iran,United States,Strait of Hormuz,Brent crude,WTI,sanctions,Middle East,oil market,crude oil,tanker attacks,Bahrain,Kuwait,energy prices,global supply
PersonInImage: