Oil Climbs as U.S.-Iran Strikes Heighten Hormuz Risk

Oil prices rose in early Asian trade as renewed U.S.-Iran clashes raised the risk of crude-flow disruptions through the Strait of Hormuz. WTI traded around $91 per barrel and Brent near $96 after U.S. Centcom said it struck air-defense sites and other targets, with Axios reporting two Iranian tankers hit under a new “tanker-for-tanker” policy. Iran alleged retaliation via missiles and drones, while Trump commented on negotiations. Additional pressure came from API and SPR inventory draws, signaling tighter supplies and likely continued volatility as markets digest the flare-up in hostilities and potential supply disruptions.