Oil Prices Rise 2.87% as US Strikes Iran Impact Markets

Oil prices increased after the U.S. launched strikes against Iran, with West Texas Intermediate (WTI) futures rising 2.87% to $72.46 per barrel and Brent crude futures climbing 2.75% to $76.18 per barrel. This retaliation followed Iranian attacks on three commercial vessels in the Strait of Hormuz. The U.S. military warned of heavy costs for Iran, escalating tensions in the region and jeopardizing a fragile ceasefire. This situation may influence inflation and lead the Federal Reserve (Fed) to adopt a more hawkish approach to interest rates, impacting ordinary investors.