Iranian Military Attacks U.S. Warship in Strait of Hormuz; Oil Prices Surge 5.1% on May 4

According to Iran's FARS News Agency, Iranian military attacked a U.S. warship attempting to transit the Strait of Hormuz on May 4. In response to the incident, international crude oil prices surged intraday, with Brent crude futures rising 5.1% and West Texas Intermediate (WTI) crude futures climbing 4.8%, according to reporting by Xinhua News Agency.
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