Oil prices climb again as Iran tensions fuel supply fears
Brent briefly topped $91 as traders weighed a stalled U.S.-Iran truce and a 5-to-1 drop in Strait of Hormuz tanker traffic, data showed.
- On Tuesday, August 18, the US-Iran truce expired, prompting Tehran to shift to a "fully offensive" military posture as oil prices crept higher and bond yields rose.
- The shaky 60-day truce between the US and Iran ended without the usual "soothing words" from President Trump regarding an imminent resolution, ING analysts noted.
- Brent crude futures climbed to roughly $91 a barrel as supply concerns intensified, while the 30-year Treasury yield closed at a fresh 19-year high of 5.31%.
- Westpac analysts reported markets adopted a "generally risk-off tone" as Trump reaffirmed he would not extend the truce with Iran, complicating investor sentiment.
- Iran has intensified its hardline approach in recent weeks, striking tankers in the Strait of Hormuz, following Trump's threat to bomb Oman if it "gets in the way" of US peace efforts.
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Hawaii Tribune-Herald
The Express TribuneIran threatens new offensive while US rules out extending ceasefire deal
DUBAI/WASHINGTON — Iran will shift to a “fully offensive” military posture because efforts to negotiate a permanent end to the war with the U.S. have stalled, a senior Iranian official told Reuters on Monday, as Washington ruled out extending a temporary ceasefire agreement. The post Iran threatens new offensive while US rules out extending ceasefire deal appeared first on Hawaii Tribune-Herald.
Oil prices rise after US-Iran ceasefire expires and Trump threatens Oman
Oil prices extended gains as a US-Iran deal to reopen the Strait of Hormuz remained distant, a day after the deadline for a truce expired.While soft US data this month has eased concerns that the Federal Reserve will hike interest rates soon, traders still expect inflation to remain high for some time as the Middle...
Brent crude oil prices traded above $90 per barrel on concerns about risks related to supply disruptions.
Brent crude oil prices climbed as expectations for peace in the US/Israel-Iran conflict weakened and military tensions escalated in West Asia. Tanker interventions in the Strait of Hormuz and clashes in the Red Sea, triggering global supply concerns, continue to support the upward trend in oil prices.
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