Oil rises as US strikes on Iran raise fears over shaky truce
Brent climbed 3.45% to $76.72 a barrel as traders priced in supply risks after fresh US strikes and tighter sanctions on Iranian oil.
- On Wednesday, President Donald Trump declared peace negotiations with Iran 'over' during a NATO summit in Ankara, Turkey, after the U.S. military struck over 80 targets in Iran.
- The White House and Tehran had signed a memorandum of understanding in June initiating a 60-day negotiation process, but the two nations resumed exchanging strikes this week despite hopes for peace.
- In retaliation, Tehran struck 85 U.S. military targets in Bahrain and Kuwait, while Brent crude, the international oil benchmark, rose more than 3 percent on Wednesday as oil prices surged.
- Trump bitterly referred to Iran's leadership as 'scum,' telling reporters, 'They're led by sick people, and they're vicious, violent people,' and claiming they would use nuclear weapons if available.
- Amanda McGonigle, an Instagram content creator with nearly two million followers, is suing the Secret Service after being banned from a Maine event for Vice President JD Vance, with the ACLU of Maine defending her First Amendment rights.
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Brent Crude Crossed USD 79 as Fresh US Strikes on Iran Fuel Supply Fears
Get latest articles and stories on Business at LatestLY. Brent crude prices surged sharply on Thursday, reaching USD 78/barrel following the fresh US strikes on Iran and renewed concerns over supply disruptions in the Middle East. Business News | Brent Crude Crossed USD 79 as Fresh US Strikes on Iran Fuel Supply Fears.
At the end of this edition the WTI oil is steeped 5.86% to US$74.57 per barrel, while Brent jumps 6.67% to US$79.1 per barrel. In addition, the world’s major bags reported falls.
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Global Markets Waver as Trump Casts Doubt on Iran Ceasefire, Oil Prices Surge and Investors Turn Cautious
Global financial markets experienced a volatile trading session on Wednesday after President Donald Trump cast fresh doubt on the future of the fragile ceasefire between ... The post Global Markets Waver as Trump Casts Doubt on Iran Ceasefire, Oil Prices Surge and Investors Turn Cautious first appeared on [your]NEWS.
The US attacks in Iran are confusing investors. Oil prices are rising, making calls for further US interest rate increases louder. Broadcom, a chip manufacturer that closes a billion deal with Apple, delivers good news.
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