Oil prices climbed to a one-month high as the US and Iran stepped up attacks in the Strait of Hormuz. This was reported by Qazaqyia.kz citing Reuters.
The Strait of Hormuz is a crucial passage for about one-third of the world's oil supply. The escalation of tensions between the US and Iran in recent days has raised concerns in the oil market. Analysts warn that further escalation could push oil prices even higher.