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Oil Prices Bounce Higher After New US Strikes on Iran
US officials said the strike targeted a threat to US forces and commercial traffic, while four Iranian drones were shot down, Reuters reported.
- On Thursday, the United States military struck a control center in Bandar Abbas, Iran, and intercepted Iranian drones launched overnight. An American official described the actions as "measured, purely defensive, and intended to maintain the ceasefire."
- These developments follow a recent escalation in aerial attacks, testing a shaky ceasefire. The ongoing conflict has halted shipping through the crucial Strait of Hormuz for months, creating economic uncertainty for global markets dependent on the waterway.
- Brent North Sea crude rose 1.8 per cent to $95.95 a barrel on Thursday morning, while West Texas Intermediate increased 1.7 per cent to $90.17. Price jumps erased Wednesday's declines driven by hopes for an imminent peace deal.
- Madison Cartwright, a senior geo-economics analyst at CBA, put a 70 per cent probability on a ceasefire deal within two weeks. He warned insurance costs through the strait remain "prohibitively expensive," leaving the region's fate uncertain.
- Diplomatic efforts to end the war persist despite renewed hostilities. US President Donald Trump threatened to "finish the job" if a peace deal is not reached, maintaining pressure on all parties to negotiate.
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Before the bell: World shares decline and oil prices gain more than $2 after US strikes on Iran
World shares declined Thursday following more of what the U.S. military said were defensive strikes against Iran. Oil prices gained more than $2 a barrel after having dropped sharply a day before. In early European trading, Germany’s DAX was nearly unchanged at 25,175.63 and the CAC 40 in Paris lost 0.4% to 8,172.84. Britain’s FTSE 100 slumped 0.9% to 10,416.62. The futures for the S&P 500 and the Dow Jones Industrial Average edged 0.1% lower. U…
Coverage Details
Total News Sources10
Leaning Left2Leaning Right2Center1Last UpdatedBias Distribution40% Left, 40% Right
Bias Distribution
- 40% of the sources lean Left, 40% of the sources lean Right
40% Right
L 40%
C 20%
R 40%
Factuality
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