Comment by Morningstar DBRS Crude oil prices have increased sharply since the United States and Israel started their coordinated strikes on Iranian military targets on February 28. Iran countered, launching missiles and drones at U.S. bases and regional allies. The higher crude prices reflect the increased political risk premium and potential disruption in supply as maritime authorities and carriers, in response to the conflict, have halted traffic through the Strait of Hormuz, which sees roughly 20% of global crude oil, as well as seaborne gas flows. It is unclear whether the price increase is sustainable over the medium term, because The post Crude oil prices surge, long-term still unclear appeared first on Financial Mirror .