Iran-Israel-US War: Oil Firms Suspend Hormuz Shipments
Major oil companies suspended shipments through the Strait of Hormuz on Saturday amid escalating Iran-US-Israel tensions. The strategic waterway handles 20% of global oil trade, raising fears of a potential shutdown that could spike crude prices. Brent crude rose to $72.87/barrel while Nigeria's Bonny Light reached $78.62/barrel. This follows US-Israeli strikes on Iran and Iranian retaliatory attacks across five Middle Eastern countries. Saudi Arabia vowed resistance as tensions escalate.