Washington, June 11 (SANA) Oil prices surged more than $2 a barrel on Thursday after Iran announced the closure of the Strait of Hormuz, raising fears of disruptions to global energy supplies following U.S. military strikes.
Brent crude futures rose $2.30, or 2.47%, to $95.40 a barrel, while U.S. West Texas Intermediate crude gained $2.60, or 2.89%, to $92.63 a barrel, according to Reuters.
U.S. crude futures had climbed more than $3 earlier in the session as traders reacted to escalating tensions in the Middle East and concerns over shipping through the strategic waterway.
The gains followed a 2% rise in oil prices on Wednesday after U.S. President Donald Trump warned Iran following an exchange of attacks between Washington and Tehran.
The Strait of Hormuz, which links the Gulf to global markets, is one of the world’s most important energy transit routes, carrying a significant share of global oil and liquefied natural gas exports.
Earlier Thursday, U.S. Central Command said it had carried out defensive strikes against Iranian targets, further escalating the confrontation between the two countries.
R.A/ABD
