Oil Prices Climb After U.S. Strikes Three Iranian Tankers and Iran Vows Revenge
WTI rose 0.72% to $92.14 a barrel after Centcom said it hit three Iranian oil tankers in response to missile fire on two U.S. warships.
- On Monday, Brent crude rose 0.63% to $96.89 per barrel and WTI climbed 0.72% to $92.14, as weekend strikes between U.S. forces and Iran intensified fears of prolonged supply disruptions in the Strait of Hormuz.
- U.S. Central Command reported Saturday that it struck three Iranian oil tankers—M/T Downy, M/T Stark, and M/T Kylo—near Kharg Island, Jask, and the Gulf of Oman after the IRGC targeted two U.S. warships with ballistic missiles.
- Following the attack, Admiral Brad Cooper stated, "If you shoot at two of our ships, we will impose an even higher economic cost," while Centcom confirmed 92 commercial vessels have been redirected since July 14.
- Iranian parliament speaker Mohammad Bagher Qalibaf declared the era of "proportionate responses" is now over, warning that future retaliations from Iran will be "faster, heavier and more painful."
- Mohsen Rezaei, secretary of Iran's Supreme National Security Council, suggested Iran would soon announce a new restricted zone outside the Strait, while independent tanker tracking estimates actual oil flows at about 5.04 million barrels per day.
48 Articles
48 Articles
US strikes three Iranian tankers as African airlines face renewed jet-fuel shock
The United States has struck three Iranian oil tankers in a fresh confrontation that could intensify pressure on African airlines already paying some of the world’s highest aviation-fuel costs.
Oil prices rose nearly 1 percent on Monday after Iran and the United States attacked tankers in the Strait of Hormuz, Reuters reported, quoted by BTA. Brent North Sea crude, a benchmark for Europe, added 0.97 percent to $97.21 a barrel by 10:30 a.m. Bulgarian time. US light crude WTI rose 0.64 percent to $92.05 a barrel. Last week, Brent rose 7.8 percent and the US benchmark by nearly 10 percent after Iran and the United States resumed attacks a…
Oil up, Bitcoin down as US strikes Iranian Crude carriers
Bitcoin is nursing losses as crude trades higher following a weekend of escalation in the U.S.-Iran war. On Saturday, U.S. Central Command (Centcom) confirmed striking three Iranian oil tankers, M/T Downy, M/T Stark 1, and M/T Kylo, near Kharg Island, Jask, and in the Gulf of Oman, respectively. “If you shoot at two of our […]
The tension in the Strait of Ormuz reached a critical point, and in response to American strikes on three Iranian oil tankers, one of which was at the key export island of Khark, the Islamic Revolutionary Guard Corps responded with attacks, with consequences for world trade.
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