How will US strikes on Iran impact global oil prices?

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US strikes on Iran are likely to keep global oil prices under upward pressure, but the exact move cannot be pinned down from this market update alone.

US strikes on Iranian targets, especially alongside the revocation of Iran’s oil export waiver, point to the risk of tighter supply conditions and more market uncertainty. That kind of escalation is typically treated by traders as a possible threat to oil flows through the Strait of Hormuz, a route that carries a large share of seaborne crude.
The immediate market reaction has been caution, not a price number

The market response described here was a drop in Bursa Malaysia’s benchmark index, with the FBM KLCI falling 5.97 points, or 0.36 per cent, to 1,677.64. The concern was not a quoted oil price move, but the possibility that further escalation could affect global energy supplies.
The Strait of Hormuz is the key risk point

The strikes were launched to safeguard shipping through the Strait of Hormuz, which is one of the world’s most sensitive oil transit routes. Any disruption there can quickly feed into expectations of tighter supply, and that usually supports higher crude prices in global trading.
The oil export waiver decision adds to supply concerns

Revoking Iran’s oil export waiver is significant because it signals tougher pressure on Iranian exports. In oil markets, sanctions-related constraints can reduce available supply or raise the risk premium built into prices, even before any actual disruption occurs.
The broader price effect depends on whether escalation continues

The update says the situation signals the possibility of further escalation, and that is what keeps energy markets nervous. If tensions stay elevated and shipping risks rise, global oil prices would generally be expected to face upward pressure; if the situation calms, that pressure can ease.

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How will US strikes on Iran impact global oil prices?

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