The Economic Times

Why are oil prices rising today, and will Brent crude futures and US WTI prices continue to go up? Oil prices gain after renewed US-Iran strikes and Strait of Hormuz disruption

Why are oil prices rising today, and will Brent crude futures and US WTI prices continue to go up? Oil prices increased after renewed attacks involving the United States and Iran raised concerns over energy supplies through the Strait of Hormuz. Brent crude futures and US WTI crude moved higher as tanker traffic slowed again. Analysts believe supply recovery may take months because of damaged infrastructure, shipping delays, and production disruptions.