Oil Prices Soar on US Iran Tensions: What's Behind the Rally? The latest bout of violence between the United States and Iran has sent oil prices skyrocketing.
Beneath this volatility, however, lies a more complex story about global supply chains and the delicate balance of power in the Middle East.
For weeks, tensions have been simmering as President Trump cast doubt on the ceasefire agreement with Iran, hinting at a possible resumption of hostilities that could keep the Strait of Hormuz closed.