Oil Prices Rise Slightly After U.S. and Iran Trade Strikes

Oil prices rose as Brent crude increased by approximately 1 percent following US-Iran strikes on vessels near the Strait of Hormuz. These attacks sparked concerns regarding prolonged supply disruptions, while the national average gas price reached nearly $4.15 per gallon. Simultaneously, OPEC+ maintained its October oil output policy without changes, further contributing to global crude supply uncertainty. Consequently, oil prices extended their gains amid these geopolitical tensions and steady production quotas from the OPEC+ alliance.