Oil rises after report of US strike on Iran's Qeshm Island
Brent crude rose 0.5% as traders weighed the risk of wider conflict and disruptions to shipments through the Strait of Hormuz, Reuters said.
- Oil prices rose in early Asian trade on Tuesday following reports that the United States struck Iran's Qeshm Island, with Brent crude futures up 0.5% to $105.25 a barrel and West Texas Intermediate crude increasing 47 cents to $96.93 a barrel.
- Iranian state media reported several explosions near Qeshm Island on Monday, while the Islamic Revolutionary Guard Corps claimed to have intercepted American drones near the Strait of Hormuz in separate operations.
- Market analyst Tim Waterer at KCM Trade noted the strike report "flipped the tone" after markets had begun pricing in a more diplomatic path, reversing recent optimism about conflict resolution.
- Reduced traffic through the Strait of Hormuz during the eight-month US-Iran conflict has become a leading cause of elevated gasoline prices, affecting global crude oil and natural gas supplies.
- Iranian President Masoud Pezeshkian said Supreme Leader Ayatollah Mojtaba Khamenei authorized peace talks, though recent Qatari mediator discussions ended without breakthrough; separately, the United States will host Ukraine-Russia talks in Abu Dhabi on November 10-11.
184 Articles
184 Articles
New attacks against Iran were actually expected only after the US elections on Tuesday. Now there is supposed to have been an attack before.
Donald Trump announced on Tuesday "massive" strikes against Iran. The day before, the US President said that an agreement "could come".
The United States has launched a military strike on the Iranian island of Qeshm, targeting Iranian forces that were attacking American military assets in the area, the Times of Israel reported.
According to media reports, after the Midterms, the U.S. government is planning new attacks on Iran. Now there is supposed to have been a limited attack before. According to media reports, the U.S. military has once again attacked targets in Iran. The attack was directed against the island of Gheshm in the Strait of Hormus, as reported by the "Wall Street Journal" on appeal to U.S. officials. "Axiose reporter Barak Ravid wrote on X that a U.S. f…
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