Summary: Oil prices surged over 9% following Israel’s strikes on Iran, escalating tensions and raising concerns about potential supply disruptions. The market is worried about the Strait of Hormuz being shut off, though it’s too early to determine the impact on Middle East oil shipments.

Link: https://www.businesstimes.com.sg/international/global/oil-soars-more-9-after-israel-strikes-iran-rattling-investors