Commodities
US-Iran Tensions Fuel Biggest Weekly Oil Price Gain Since July
Crude oil prices are on track for their biggest weekly gain since July due to rising tensions between the United States and Iran.
The Strait of Hormuz, a crucial energy route, is at risk of prolonged disruptions if military clashes escalate. Brent crude has gained around $1 in recent days as markets become increasingly concerned about the impact on global oil supplies.
The situation is precarious, with the possibility of more severe consequences looming large. Oil prices are expected to rise further as tensions continue to simmer between the two nations.