Oil prices jump more than 2% after new strikes on Saudi, Strait of Hormuz
Oil prices jumped over two percent on Monday, driven by fresh attacks from Houthi militants and Iranian forces. This escalation has heightened fears of supply disruptions after a crucial Saudi oil pipeline was compromised. A vessel in the Strait of Hormuz was hit, resulting in a fire and the evacuation of its crew.
Oil prices jump more than 2% after new strikes on Saudi, Strait of Hormuz
What Happened
Oil prices jumped over two percent on Monday, driven by fresh attacks from Houthi militants and Iranian forces. This escalation has heightened fears of supply disruptions after a crucial Saudi oil pipeline was compromised. A vessel in the Strait of Hormuz was hit, resulting in a fire and the evacuation of its crew.
Key Details
Original reporting provided by Economic Times Markets.
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