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Oil prices turned lower on Thursday after the U.S. carried out fresh strikes on Iran, renewing concerns about supply disruptions in the Middle East.
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Kuwait accused Iran of fresh attacks after U.S. strikes hit Iranian targets, raising fears over the Strait of Hormuz and oil prices.
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A wave of U.S. attacks were followed by Iranian strikes, halting ship traffic in the Strait of Hormuz again. Oil prices rose sharply.
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Crude oil prices jumped and stock prices fell after President Trump declared an end to the ceasefire with Iran, adding fresh uncertainty to an already shaky outlook for the global economy.
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;Resize=(620)) The price for a barrel of Brent crude oil, the international standard, rose to about $79 US on Wednesday following the resumption of strikes in the Middle East. Major U.S. indexes also followed global markets on a downward trajectory.
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