Oil prices turn lower as traders weigh impact of renewed US strikes on Iran

"Oil prices have gained this week as attacks deepened supply disruption in the Strait of Hormuz, which handled about a fifth of ​the world's oil and liquefied natural gas trade before the war began."The concern is that renewed oil supply disruptions come amid the large inventory drawdowns through the second quarter, ​leaving the market more vulnerable."strikes on Iranian military installations, which fuelled fears of renewed full-scale ‌conflict and supply disruptions in the Strait of Hormuz.