Brief by Shorts91 Newsdesk / 05:11am on 28 May 2026,Thursday Business
Global oil prices surged nearly 2% after fresh US strikes targeted Iranian military facilities near Bandar Abbas, intensifying fears of wider conflict and potential supply disruptions. According to Reuters, US forces struck Iranian drone-launching infrastructure after intercepting four attack drones allegedly targeting a US commercial vessel near the Strait of Hormuz. Following the operation, explosions were reported east of Bandar Abbas, triggering temporary activation of Iranian air defence systems. Brent crude climbed above $96 per barrel amid renewed geopolitical anxiety over the strategically critical Strait of Hormuz, through which a significant share of global oil passes. Markets remain volatile as uncertainty grows around stalled US-Iran peace negotiations and risks to global energy supply chains worldwide. (PC: Times Now)
