Iran attacks US targets; oil prices spike near critical shipping strait

Iran has launched military strikes against US targets in the Middle East amid renewed tensions, causing oil prices to spike. The conflict threatens the Strait of Hormuz, a chokepoint controlling 20% of global oil shipments. EU energy markets and eurozone inflation could face pressure from any prolonged disruption to regional stability.

Byte's take

Geopolitical chaos in the Gulf becomes an ECB problem in Brussels.