Crude Oil Prices Surge Up to 1% After US Strikes Near Strait of Hormuz, Brent Hits USD 93.26 per Barrel

Global crude oil prices traded higher on Wednesday, increasing by up to 1 per cent after the United States launched strikes against Iranian military targets near the Strait of Hormuz, raising concerns over potential disruptions to energy supplies from the strategically important region. International benchmark Brent crude was up about 1 per cent at $93.26 per barrel.