WS #12127
Renewed US-Iran military strikes and attacks on Hormuz shipping drive oil prices higher, with multiple sources warning of economic impact, but Trump signals potential de-escalation. EIA reported a crude inventory draw of 1.7M barrels for the week ended July 10, supporting oil prices.
US-Iran Conflict Escalation and Oil Price Surge
Renewed US-Iran military strikes and attacks on Hormuz shipping drive oil prices higher, with multiple sources warning of economic impact, but Trump signals potential de-escalation.
EIA reported a crude inventory draw of 1.7M barrels for the week ended July 10, supporting oil prices.