Brent Crude Surges Above $100 Amid Iran Conflict and Strait of Hormuz Disruptions
Social media reports link rising Brent crude prices and mortgage rates to the Iran conflict and related energy disruptions.
TLDR
Posts from @intelFromBrian note Brent crude back over $102 and up 4 percent. @GlobalMktObserv reports the average 30-year fixed mortgage rate at 7.12 percent, its highest since May 2024, and states rates have risen more than one percentage point since late February when the Iran War pushed oil prices higher. @MarioNawfal cites TankerTrackers founder Samir Madani that roughly 10.3 million barrels per day continue through the Strait of Hormuz even as Iran attacks ships and its own exports have collapsed. Fox News posts quote Treasury Secretary Scott Bessent discussing the energy supply shock tied to the Iran conflict and predicting lower oil prices once it ends.
Brent Crude Surges Above $100 Amid Iran Conflict and Strait of Hormuz Disruptions
Social media reports link rising Brent crude prices and mortgage rates to the Iran conflict and related energy disruptions.
