Oil Prices Drop Amid U.S.-Iran Tensions and Uncertainty Over Strait of Hormuz
Oil prices fell on Thursday as investors assessed the fallout from renewed U.S. military strikes against Iran, which have escalated tensions in the region and raised concerns over oil shipments through the strategic Strait of Hormuz. Both Brent crude futures and WTI declined after earlier gains driven by Wednesday's post-settlement trading.
Topics: military_strikes oil_prices Strait_of_Hormuz U.S.-Iran_relations