Crude Oil Prices Surge Over 2% Amidst US-Iran Tensions and Retaliation Claims
Crude oil prices increased by over 2% as Iran's Revolutionary Guards claimed to have targeted a US military base in retaliation for a US attack on an Iranian drone operating center. This development follows a brief dip in prices due to ceasefire hopes, which were dashed when US President Donald Trump denied a deal was close with Tehran. The exchange of airstrikes is described by an analyst as the current language of negotiation.