Oil Prices Surge as Iran-Israel Tensions Escalate Amid U.S. Diplomatic Efforts
Crude oil prices have risen following a series of airstrikes between Israel and Iran, escalating tensions in the region. The conflict has disrupted crude oil shipments through the Strait of Hormuz, a critical chokepoint for global oil supply. Despite a tentative ceasefire agreement between the U.S. and Iran, the latest hostilities have strained diplomatic efforts to resolve the conflict. President Trump has reportedly urged Israeli Prime Minister Benjamin Netanyahu to refrain from further retaliation, emphasizing the need to avoid escalating the situation. The price of Brent crude has increased by 1%, while U.S. crude prices have risen by 0.6%, reflecting market concerns over supply disruptions. 
