Oil markets are on alert due to US-Israeli strikes against Iran, which could disrupt global crude oil supply and raise prices. Iran, a significant oil producer, has threatened to block the Strait of Hormuz, a vital oil export route. Despite sanctions reducing its output, Iran remains a top oil producer with low extraction costs. The Strait of Hormuz is crucial for global oil transport, with tensions rising as Iran conducts military drills and warns the US. Teljes cikk (Euronews.com)