Crude Oil Prices Rise Amidst US-Iran Tensions

New York. Crude oil prices have increased in the global market. On Wednesday's trading, crude oil prices rose by nearly 2 percent after the United States imposed sanctions on crude oil sales by launching a new airstrike on Iran.

Concerns have increased that oil supply may be affected again as tensions escalate in West Asia. After Iran attacked three commercial ships in the Strait of Hormuz, the United States launched a widespread attack on Iran.