Oil prices rise after U.S. blocks surprise attack from Iran
All incoming missiles were intercepted, and crude rose more than 3% as traders weighed renewed risks to Middle East energy supplies.
- On Tuesday at 5:45 p.m. ET, CENTCOM said the Islamic Revolutionary Guard Corps launched multiple ballistic missiles from Iran in a surprise attack on U.S. forces in the Middle East, with all missiles successfully intercepted.
- Before the missile attack, Iran held discussions with Saudi Arabia and Oman regarding security in the Strait, with the Foreign Ministry claiming talks focused on the need to "eliminate the insecurity imposed on the Strait caused by the aggressive actions."
- Oil prices reversed earlier losses on Tuesday, surging after the military interception, as WTI climbed 3.92% and Brent gained 3.86%, reviving concerns over global energy supplies.
- Asian markets traded higher with South Korea's KOSPI rising 1.75% and Japan's Nikkei gaining 0.25%, while Nasdaq futures advanced 0.48% in response to the escalation.
- U.S. forces remain vigilant and at a high state of readiness following the attempted attack, as traders monitor developments in the Middle East for potential energy supply disruptions.
23 Articles
23 Articles
Oil rises as US-Iran tension escalates after Iraq strikes
Oil prices were up nearly $3 a barrel today after joint strikes in Iraq by the US and Saudi Arabia, and the interception of Iran's ballistic missiles aimed at US forces in the Middle East, while US crude inventories shrank.
The resumption of military operations caused intense turbulence in international oil markets.
Oil prices are rising in Asian markets after Iran launched ballistic missile attacks on US bases in the Middle East. The post Oil: Prices rise by at least 3% after Iran attacks on US bases appeared first on in.gr.
The Economic Times
Times of IndiaOil Price Today (July 29): Crude oil jumps 5% as US intercepts Iranian 'surprise attack’. Big rally ahead?
Brent crude jumped 5% to around $88 a barrel, recovering after its biggest three-day decline since April 2020. The U.S. West Texas Intermediate (WTI) crude advanced $.67, or .47%, to $83.
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