General · 28 May 2026

US strike near Hormuz: Why oil hit $96

Higher fuel costs could affect households and businesses as oil markets reacted to new fighting near the Strait of Hormuz. Oil prices climbed on Thursday after US forces struck an Iranian military location that Washington said threatened troops and shipping routes. Brent crude gained $1.90 to $96.19 a barrel, while US crude inventories dropped by 2.8 million barrels for a sixth straight week.

By BriefTea Editorial · 28 May 2026 at 3:32

Reported by Reuters · How we write briefs

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