Oil resumes rally as U.S.-Iran fire exchange rattles fragile Hormuz ceasefire

The recent escalation in hostilities between the U.S. and Iran underscores the volatility of the oil market, which is heavily influenced by geopolitical developments. Investors are likely to remain cautious as any further conflict could lead to significant disruptions in oil supply, particularly through the critical Strait of Hormuz. This situation serves as a reminder of the interconnectedness of global energy markets and the potential for rapid price fluctuations in response to political events.