Top Oil Analyst Paul Sankey on the Impact of Middle East Tensions on Energy Markets

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Following the US strikes on approximately 90 military targets in Iran, Iran's retaliatory attacks on US bases in Kuwait and Bahrain increased geopolitical risks in global markets. Concerns about the Strait of Hormuz caused Brent crude oil prices to rise to $78.80 per barrel, while gold held steady around $4,066 as investors sought safe haven assets.

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Oil prices rose by over 6% and reached their highest level in the last two weeks, amid intensifying tensions in the Middle East and fears of possible disruptions to supplies through the Strait of Hormuz, notes ipn.md. Brent crude rose to $77.28 per barrel, while WTI crude […]