Crude Oil Surges Past $90 as US-Iran Strikes Dim Hormuz Peace Hopes
Brent crude surged past $90/barrel (+2.3%) and WTI rose to ~$85 (+2%) after US strikes on Iranian targets near the Strait of Hormuz
Key points
- Brent crude surged past $90/barrel (+2.3%) and WTI rose to ~$85 (+2%) after US strikes on Iranian targets near the Strait of Hormuz
- Washington hit Iranian rocket launchers on Larak Island; Tehran retaliated with strikes on US bases in Jordan, escalating sharply
- Hormuz risk premium is at its highest in months—the strait handles ~20% of global seaborne oil
- For India, a sustained $90+ Brent widens the current account deficit and pressures fuel prices and energy-linked sectors
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Read the full analysis on market.news
🇮🇳 India Commodities Commodity crude-oil geopolitical iran hormuz