
US and Iran Exchange Fire in Hormuz Strait, Fueling Oil Price Hikes
US and Iranian forces exchanged fire in the Strait of Hormuz, escalating tensions in the region. This renewed hostility led to a significant increase in oil prices and caused volatility in global stock markets.
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Trump says US-Iran ceasefire still in place after exchange of fire in Strait of Hormuz
Iran accuses the US of violating the truce, alleging it targeted an oil tanker and carried out attacks on coastal areas.
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Brent crude futures were up $1.20, or 1.2%, at $101.26 a barrel
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