Oil Soars as US Extends Strikes Against Iran Into Second Night The recent uptick in US military strikes against Iranian targets has sent oil prices soaring to a two week high.
The impact on global oil markets has been seismic, with concerns about supply disruptions from the region driving the price surge.
Iran's decision to increase its own oil production levels last week was seen as an attempt to bolster the regime's economic resilience in the face of US sanctions.