Crude Oil Prices Rise as U.S.-Iran Tensions Increase
Benchmark crude prices increased on Thursday after Iran stated it targeted a U.S. airbase. Commercial traffic through the Strait of Hormuz fell sharply following earlier modest gains.
France 24Benchmark prices for crude oil rose on Thursday as Iran said it targeted a U.S. airbase in response to American air strikes. Commercial traffic through the Strait of Hormuz, which had slightly ticked up in previous days, dwindled down to almost nothing again.
Australia takes legal action against U.S. consumer goods giant 3M over "forever chemicals" in firefighting foam. Brazilian officials endorse more oil and gas exploration in the Amazon.
Key Facts
Story Timeline
2 events- Thursday
Benchmark crude prices rose after Iran said it targeted a U.S. airbase.
1 sourceFrance 24 - Recent days
Commercial traffic through the Strait of Hormuz fell to near zero.
1 sourceFrance 24
Potential Impact
- 01
Higher oil prices may increase fuel costs for importers.
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