Oil Markets Seethe as Ceasefire Collapse Sparks New Fears The recent spike in oil prices has sent shockwaves through global markets, and for good reason.
The breakdown of a tentative ceasefire between the US and Iran has left investors scrambling to reassess the risks associated with Middle Eastern tensions.
The Strait of Hormuz, where Iranian oil tankers have been impounded and seized in recent weeks, remains a flashpoint for global tensions.