Oil prices rise after Saudi-U.S. strike

Oil prices rose by about 4% after Saudi Arabia joined the United States in launching strikes on Iran-backed groups in Iraq, who are attributed with attacks on Saudi oil facilities. Brent crude climbed to $87.30 per barrel, and West Texas Intermediate reached $82.30, amid escalating military tensions and Iran's attacks on American forces, with warnings of long-term impacts and the potential disruption of Gulf oil supplies. These developments come amid estimates of a 3.3 million barrel decrease in U.S. oil inventories, fueling market concerns over disruptions in oil production and supply.

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