Oil prices surge following Trump's Tehran evacuation call
Oil prices just shot up, with Brent crude topping $73 a barrel and WTI close behind at $72.
The spike comes after Israel launched strikes on Iranian nuclear sites last Friday.
Even though things are tense, Iran's oil facilities haven't been hit and the key Strait of Hormuz—where a lot of the world's oil ships through—is still open.
Iran situation looms over oil market
The conflict is making shipping tougher, with navigation signals in the Persian Gulf and Strait of Hormuz getting jammed.
Shipowners are now wary about taking jobs in the area, which has pushed tanker rates higher.
Big banks like Morgan Stanley have raised their oil price forecasts because of all this uncertainty.
And with President Trump leaving the G7 summit early, it's clear global leaders are paying close attention to what happens next in this crucial oil-producing region.