Crude Prices Rise Above $90 per Barrel on US-Iran Strikes
Brent crude climbed more than 5.5% as traders weighed threats to shipping through the Strait of Hormuz, analysts said.
- On Monday, Brent crude prices rose above $90 a barrel after hostilities between the United States and Iran flared up over the weekend, with both sides trading military strikes near the Hormuz Strait.
- U.S. forces said they targeted two Iranian rocket launchers on Larak Island over the weekend, claiming Iranian forces prepared to launch rockets carrying sea mines into the Hormuz Strait.
- Treasury Secretary Scott Bessent announced 'Operation Economic Outcast' last week, stating "no one is above the reach of U.S. sanctions" regarding new measures against Iranian banks.
- Stephen Innes of Quintex Intel warned the exchange shows how fragile shipping progress remains, saying "the geopolitical premium can return" quickly for oil traders.
- Federal Reserve official Kevin Warsh described recent inflation as "concerning" during Friday's Jackson Hole speech, leaving traders concerned that borrowing costs may increase amid elevated energy prices.
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Oil prices rise as US-Iran clashes reignite supply disruption fears
Oil prices gained on Tuesday as the resumption of fighting between the US and Iran in the Middle East renewed fears of supply disruptions from the world’s key crude-producing region. Brent crude futures were up 66 cents, or 0.7 per cent, to $91.15 a barrel at 0640 GMT, while US West Texas Intermediate crude was […]
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Crude Prices Rise Above $90 Per Barrel On US-Iran Strikes
The news revived concerns about the conflict in the Gulf, with attempts at peace talks appearing to be going nowhere. The post Crude Prices Rise Above $90 Per Barrel On US-Iran Strikes appeared first on Channels Television.
Oil prices add more than 3% to the bidding on Monday against the backdrop of renewed fighting in the Middle East.
Oil rises above $90 as US and Iran resume strikes
Washington has threatened more economic pressure on Tehran
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