Iran-US Tensions Send Oil Prices Soaring Amid Disruption Fears

Crude oil prices continued their volatility on Monday, trading above $91 a barrel as tensions between the US and Iran escalated.

The price surge of 9.7% last week has left many wondering about the impact on energy shipments through the Strait of Hormuz, a critical waterway for global oil trade.

The US retaliated against Iranian ballistic missile attacks on US Navy warships by striking three Iranian oil tankers over the weekend, destroying one in the process.

Iran responded with a threat to establish a restricted zone outside the strait, which could further disrupt energy shipments.