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Global Oil Prices Surge amid Concerns over Renewed US-Iran Conflict, Crude Supply Disruptions

[Economy] : Global oil prices surged on Friday amid concerns about a renewed conflict in the U.S.-Iran war and crude delivery disruptions in the Strait of Hormuz. Brent crude for December delivery ended Friday at a six-month high of 117 U.S. dollars and 64 cents per barrel, up two-point-four percent from the previous ... [more...]

Global Oil Prices Surge amid Concerns over Renewed US-Iran Conflict, Crude Supply Disruptions

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Oman rescues 25 crew as attacks and mine threats disrupt Hormuz shipping

OMAN has rescued 25 crew members from a burning merchant vessel after it was attacked on Friday, as fresh incidents involving oil tankers heightened tensions in the Strait of Hormuz.

  • 25 crew rescued off Oman coast after tanker attack
  • Iran restricts Strait of Hormuz shipping since Feb 28
  • U.S. clears mines, maintains presence in region

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