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Commodities

Crude Oil Prices Jump on Escalating Middle East Tensions

Guavy AI Editorial Team
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Crude oil prices rose by 2.07% to ₹8,149 on Monday as tensions in the Middle East escalated following a series of US-Iran strikes.

The United States and Iran exchanged attacks for the first time in roughly a month, raising concerns over crude flows through the Strait of Hormuz.

US forces targeted Iranian rocket launchers reportedly preparing to deploy mines in the strategic waterway, while Iran claimed attacks on US bases in Jordan.

Tehran also reported that a supertanker attempting to cross Hormuz's southern route struck two mines, although the incident remains unconfirmed.

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