Commodities
US-Iran Tensions Drive Oil Prices to Highest Level Since May
Crude oil prices surged to their highest level since May on Wednesday, reaching around $96.70 per barrel, due to escalating US-Iran tensions.
The latest developments in the conflict include reports of Iran attempting to attack Navy ships on Monday after targeting an aircraft carrier with ballistic missiles over the weekend.
US officials confirmed that a US missile targeted a small oil tanker four miles from Kharg Island on Tuesday, further heightening the situation.
The conflict has also seen Iranian-backed Houthi militants attacking several energy facilities in Saudi Arabia, forcing a temporary halt to some operations.