Strait of Hormuz attack rattles oil markets
Photo — İrfan Simsar / Pexels
The most consequential breaking story right now is a reported attack in the Strait of Hormuz paired with Saudi Arabia shutting its main pipeline bypassing the waterway, sending oil prices sharply higher. Reuters says diplomacy around the Strait of Hormuz has stumbled, while Euronews reports Brent crude surged above $108 a barrel after the attack killed one crew member and heightened supply fears.