global
Crude Oil Tops $100 per Barrel After U.S.-Iran Strikes in Strait of Hormuz
Just the facts
The military exchanges in the Strait of Hormuz raised concerns regarding energy transport through the Persian Gulf corridor. Domestic gasoline prices increased alongside benchmark crude futures following the military engagements. Market analysts noted that prolonged tension in the shipping route could sustain elevated energy prices globally.
Why this is news
Crude oil prices rose above $100 per barrel after the United States and Iran traded military strikes in the region surrounding the Strait of Hormuz.
Sources
This summary is compiled strictly from the original reporting below.