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Oil prices rise above $100 a barrel for first time since July as Iran war escalates
Brent rose to $100.07 a barrel as attacks on shipping and Saudi energy sites raised fears of tighter global supplies, Reuters said.
- On Wednesday, Iran attacked over a dozen vessels near the Strait of Hormuz, escalating the six-month conflict after the United States destroyed five Iranian oil tankers on Tuesday and driving Brent prices above $100 per barrel.
- Tehran has choked off the strategic Strait while Washington presses a counter-blockade of Iranian ports, creating the largest wave of shipping strikes since the conflict began six months ago.
- The Islamic Revolutionary Guard Corps reported attacking two United States vessels and 10 "non-compliant vessels," while The United Kingdom Maritime Trade Operations said "several" ships in The Gulf were "subject to disabling fire as part of ongoing military activity in the region."
- Rising oil prices reflect market fears that the conflict will disrupt supplies, as Iran's foreign ministry labeled the tanker attacks "an overt threat to regional and international peace and security."
- US Secretary of State Marco Rubio said on Tuesday in Colombia that "Iran continues to try to hit US naval ships," warning the country will lose more tankers in retaliation for each attack.
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Oil surges above $100 a barrel as U.S., Iran launch new attacks, while gasoline prices also jump
Oil prices shot past $100 a barrel Wednesday as fighting between the U.S. and Iran escalated, threatening to increase costs for consumers and businesses worldwide.
·Johnstown, United States
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Sydney Morning Herald+3 Reposted by 3 other sources
ASX set to fall sharply as Wall Street declines; Trump sends oil price warning as Iran war escalates
Stocks fell on Wall Street as the price of crude oil rose back above $US100 a barrel amid further escalation in the US war with Iran.
·North Sydney, Australia
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Coverage Details
Total News Sources572
Leaning Left67Leaning Right79Center161Last UpdatedBias Distribution52% Center
Bias Distribution
- 52% of the sources are Center
52% Center
L 22%
C 52%
R 26%
Factuality
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