Oil prices rise slightly after US announces new round of strikes on Iran

Brent crude rose 0.55 percent to 91.51 dollars and WTI climbed 0.36 percent to 84.64 dollars after the US announced a fresh round of strikes on Iran, raising fears of supply disruptions. Iran-aligned Houthis also threatened to target Saudi oil vessels in the Bab el-Mandeb Strait, adding to supply concerns. US-Iran conflict has cost the US 37.5 billion dollars so far. Rising crude prices are negative for India as a major oil importer, pressuring OMCs and downstream sectors.