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The Economic Times

Veer Sharma

Oil Price Today (May 28): Crude oil surges nearly 3% after Iran says it targeted US airbase in retaliation for fresh American strikes

Oil crude oil the Strait of Hormuz Hormuz United States Citi Saudi Aramco

Oil prices climbed on Thursday after fresh US strikes in Iran reignited fears of disruptions to commercial shipping through the Strait of Hormuz.

Brent crude, the global benchmark, surged more than 3% to $97.29 a barrel, while US West Texas Intermediate (WTI) crude jumped 3.42% to $91.71 a barrel.

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