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.
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149 Articles
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.
On the day before the Midterms, US President Donald Trump had indicated a peace agreement with Tehran. At the same time, the US military targets on the Iranian island of Qeschm are attacking. Media reports of explosions in the Strait of Hormuz.
The United States launched attacks on Iran's Qeshm Island, located in the Ormuz Strait, declared US officials for CBS. The Iranian official news agency IRNA reported on Monday that more explosions took place on the island, notes BBC.
U.S. officials reported to the "Wall Street Journal" that strikes had been carried out on Monday on the Iranian island of Qeshm, in the Strait of Ormuz. They would be part of a series of recent attacks kept secret so as not to allow a large-scale military operation to be considered, they anonymously explain. An Iranian news agency reported several explosions heard on the island of Qeshm. - Iran: the U.S. conducted strikes on the island of Qeshm …
US warplanes bombed Iran's Qeshm Island hours before the US midterm elections. This air operation, which casts a shadow over diplomatic contacts and peace talks being conducted by the Washington administration, is alleged to be part of a series of covert attacks against Iran.
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