U.S. oil prices increased significantly following American military strikes against Iran. The action came after reported Iranian attacks on three commercial vessels in the Strait of Hormuz.
A Qatari liquefied natural gas tanker was struck by a drone, according to reports. Maritime security sources said a Saudi-flagged crude oil tanker was also damaged.
Fears of disruptions to tanker traffic through the Strait of Hormuz have resurfaced after the incidents. The events have raised concerns over shipping routes in the region.
West Texas Intermediate crude prices moved higher in response to the developments.
