Oil prices have advanced for the fourth consecutive session, driven by escalating tensions between the US and Iran as well as worries over shipping security in the Strait of Hormuz, according to FX Street and ING.
The Strait of Hormuz remains a critical chokepoint for global oil shipments, and any instability in this region tends to amplify concerns about supply disruptions. Both FX Street and ING highlight that the current geopolitical risks are underpinning the sustained upward momentum in oil markets.
For Japanese investors, these developments are significant given Japan’s reliance on stable oil imports and the potential impact of rising energy costs on domestic markets and currency movements.