Commodities
Oil Surges as US Strikes Iran and Gulf States Face Retaliation: What Traders Need to Know
Fresh US military strikes on Iran have triggered retaliatory Iranian attacks on Kuwait and Bahrain, sending crude oil sharply higher and putting the Strait of Hormuz—the world's most critical oil chokepoint—squarely in the crosshairs. Traders are now scrambling to price in a genuine Gulf War scenario for the first time in decades.