Global Oil Markets React to Renewed US-Iran Conflict with Steepest Weekly Gains Since July

New fears of oil supply disruption as US-Iran hostilities resume

Renewed hostilities between the United States and Iran have brought back fears of oil supply disruption. Prices are on track for their steepest weekly gain since mid-July, up 7.6%, as the US-Iran war enters its seventh month. Twenty-five percent of the world's oil supply comes through the Strait of Hormuz, which has been blocked since the beginning of the war. FRANCE 24's international affairs editor Philip Turle gives more details.

By FRANCE24