Oil jumps after fresh U.S. strikes in Iran revive Strait of Hormuz disruption fears
Oil prices increased following new U.S. strikes in Iran, raising fears of disruptions in the Strait of Hormuz. Brent crude rose over 1.81% to $96 per barrel, while West Texas Intermediate gained 1.86% to $90.33 per barrel. Analysts noted that while there are signs of potential agreements between Washington and Tehran, uncertainty remains regarding the timing of any deal.
- ▪Oil prices rose after U.S. strikes in Iran.
- ▪Brent crude futures gained over 1.81% to $96 per barrel.
- ▪Citi noted that uncertainty over a potential agreement is keeping central banks alert.
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Oil prices rose on Thursday after fresh U.S. strikes in Iran renewed concerns over disruptions to commercial shipping through the Strait of Hormuz.Brent crude futures, the international benchmark, gained over 1.81% to $96 per barrel, while the West Texas Intermediate futures gained 1.86% to $90.33 per barrel. American forces launched fresh strikes in Iran against a military site believed to threaten U.S. troops and commercial shipping through the Strait of Hormuz, a U.S. official told MS NOW. They also reportedly intercepted and downed several Iranian drones.
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