US-Iran Standoff Drives Up Crude Prices
Crude oil futures have edged higher as benchmarks consolidated the week's firm gains amid an uneasy standoff between the US and Iran.
The military strikes between the two nations have led to a rise in tensions, with the Strait of Hormuz expected to remain restricted through October.
This has resulted in a surge in Middle East crude prices, with flagship benchmarks racing past $100/b on Wednesday.