Commodities
US Strikes Iranian Tankers Amid Escalating Tensions
Oil prices surged on Wednesday as tensions between the US and Iran escalated, with Brent crude nearing $96 per barrel.
The US struck Iranian military infrastructure and two government tankers under a new 'tanker for tanker' policy, in response to Iranian aggression in the Strait of Hormuz.
The move marked a significant escalation in hostilities between the two countries, which had been relatively calm for a month.
Iran retaliated with missiles and drones across Jordan, Kuwait, and Bahrain, further increasing market volatility.