Brent Jumps 3.75% After US Strikes Iran Site, Downs 4 Drones Near Hormuz

32 articles · Updated · BBC.com · May 28

Brent crude climbed 3.75% to $97.83 a barrel and US crude rose 4% to $92.22 after Washington hit a military site in Bandar Abbas and said it shot down four Iranian drones.
Centcom said the drones posed a threat around the Strait of Hormuz, the chokepoint effectively closed during the three-month conflict and still central to US-Iran ceasefire talks.
Bandar Abbas is a strategic port city on the strait, through which about one-fifth of global oil and LNG supply normally passes, amplifying the market impact of any new military action.
The latest strike follows months of escalation since US and Israeli airstrikes on 28 February, after which Tehran threatened vessels using the route and repeatedly raised risks to global energy flows.

As U.S. strikes hit Iran amid peace talks, is a diplomatic solution possible, or is a larger conflict now inevitable?

Can military force eliminate Iran's buried nuclear stockpile, or would an attack simply guarantee a future war?

With a key global oil artery blocked, how close is the world to a major food and energy crisis?