US EditionUS crude oil tops $80 per barrel after Iran says it attacked US tanker in Persian Gulf
Iran's missile strike on a tanker in the Persian Gulf disrupted shipping through the Strait of Hormuz, pushing oil prices above $80 amid fears of supply shocks and higher insurance costs.
- On March 5, Iran's Revolutionary Guards said they hit a vessel in the northern Persian Gulf as more tankers were attacked amid escalating U.S.-Iran tensions.
- Closure of the Strait of Hormuz by Iran's Revolutionary Guard earlier this week halted ship traffic as ship owners avoid the route and nine vessels have come under attack since Saturday.
- This week oil prices have surged about 15%, with April West Texas Intermediate futures rising as much as 6% to $79 a barrel, and U.S. crude at $77.52 per barrel.
- Around 200 ships remained at anchor as insurers and Lloyd's of London engaged; some refineries in Kuwait and Bahrain suspended operations, impacting shipping and energy supplies.
- Economists warned the Iran conflict could complicate inflation in the coming months, Baghdad cut nearly 1.5 million barrels a day, and analysts say closed shipping lanes may keep prices rising and delay central banks' rate cuts.
55 Articles
55 Articles
Iran claims to have attacked US tanker in Persian Gulf, says it controls passage in wartime
Iran’s Islamic Revolutionary Guard Corps claims an attack on an American oil tanker in the northern reaches of the Persian Gulf. The tanker is on fire, the statement asserts.
NEW: Iran Claims Attack On U.S. Oil Tanker
Iran’s Islamic Revolutionary Guard Corps (IRGC) claimed Thursday that its naval forces had conducted a missile strike on a U.S. oil tanker in the northern Persian Gulf. The IRGC stated that the vessel was hit and set ablaze, according to reports from Iranian state media. “Early this morning, this oil tanker in the northern Persian Gulf was struck by fighters from the IRGC Navy and is burning now.,” the IRGC said. They further asserted that, in t…
Fears of an oil shock are slamming stocks again after Iran says it attacked a crude tanker
VCG/VCG via Getty ImagesInvestors are growing jittery about higher oil prices again on Thursday.The worst-case fear is that higher oil prices could spike inflation and slow economic growth.Major indexes slid, with the Dow plummeting 900 points.Fears of soaring oil prices are battering markets again on Thursday after a brief respite in Wednesday's session.The sell-off in US stocks resumed as Iran said it attacked a crude tanker, reigniting fears …
Iran says it hit a US oil tanker in the Gulf and warns on transit through Hormuz
Iran’s Revolutionary Guards said on Thursday that their naval force struck a US oil tanker in the northern Gulf and that the vessel “is on fire,” raising fresh concerns about maritime security tied to the regional conflict and the safety of the Strait of Hormuz—one of the world’s most sensitive energy choke points.
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