Commodities
Iran Strikes US Bases, Oil Prices Soar Amid Escalating Middle East Conflict
Oil prices surged on September 9 as Iran's Revolutionary Guards launched attacks on U.S. military installations in the Gulf, including two American destroyers and a base in Jordan.
The strikes were retaliation for U.S. strikes on Iranian oil tankers and marked a direct counter to U.S. attacks on their oil tankers.
Analysts warn that if shipping turmoil escalates, oil prices might spike to $120 per barrel, intensifying fears over crude supply stability worldwide.