Crude Oil Prices Soar Amid US-Iran Tensions, Brent Hits $67.33

• International crude oil prices surged on Wednesday following increased tensions between the US and Iran.
• The US Navy shot down an Iranian drone near the USS Abraham Lincoln in the Arabian Sea, citing self-defense.
• Brent crude rose by 1.6% to $67.33 per barrel, while US WTI approached $64.
• Iranian vessels challenged a US-flagged oil tanker in the Strait of Hormuz, a critical oil trade route.
• Despite diplomatic talks scheduled, Middle East tensions and a significant drop in US crude inventory fueled the price hike.

Why It Matters: US-Iran tensions and declining US crude inventories have driven a sharp increase in global oil prices.