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US-Iran Conflict Sends Crude Oil Prices Soaring Amid Global Supply Crunch

Guavy AI Editorial Team
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Crude oil prices surged on Wednesday after President Trump said the US would 'hit Iran hard' following an attack from Iran that targeted a US base in Jordan.

The Islamic Revolutionary Guard Corps (IRGC) claimed to have hit and halted three tankers attempting to transit through the Strait of Hormuz, further tightening global crude oil supplies.

The Strait's reduced flow has led the International Maritime Organization to warn against crossing it due to safety concerns, causing a sharp fall in visible tanker traffic.

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