The country’s exports mostly come from Kharg Island in the Persian Gulf. But Israel’s energy facilities are also at risk.

An Iranian lawmaker said closure of the Strait of Hormuz, a critical chokepoint in the global energy trade, was under serious consideration.

The local sharemarket is set to follow Wall Street lower on Monday as investors brace for wild swings in oil prices amid escalating tensions in the Middle East.

Helima Croft, RBC, joins 'Closing Bell Overtime' to talk the state of the crude oil market amid rising tensions in the Middle East.

Rather, it is geopolitical factors—specifically, escalating tensions in the Middle East—that are unsettling markets and pushing prices higher.

Riyadh wants to squeeze U.S. frackers, although an all-out price war would be costly.

Israel’s strike on Iran has injected a fresh bout of geopolitical risk into an oil market that has been in the doldrums due to concerns about the global economy and supply increases from OPEC+.

Oil prices slipped on Thursday as markets weighed the U.S. decision to relocate personnel from the Middle East ahead of upcoming talks with Iran regarding its nuclear activities, while lingering uncertainty over tariff battles kept investors on the edge.