Oil prices jump after reports US may act in Iran
Business
Oil prices shot up on Thursday, with Brent crude hitting $105.36 a barrel and US oil at $92.75 a barrel.
The main reason? Reports that the US might take military action in Iran, making global markets nervous about possible supply disruptions.
Houthis, Iran strikes threaten oil routes
Fighting in the region is already causing headaches: Houthis have hit Saudi airports and Iran has targeted tankers near the crucial Strait of Hormuz.
As financial markets consultant at online trading platform Exness Inki Cho put it, any trouble in these export routes could push prices even higher.