Oil prices rise after U.S. blocks surprise attack from Iran
Brent and West Texas Intermediate each rose more than 3% as the U.S. said it intercepted all Iranian missiles and no positions were hit.
- On Tuesday at 5:45 p.m. ET, CENTCOM said the Islamic Revolutionary Guard Corps launched multiple ballistic missiles from Iran in a surprise attack on U.S. forces in the Middle East, with all missiles successfully intercepted.
- Before the missile attack, Iran held discussions with Saudi Arabia and Oman regarding security in the Strait, with the Foreign Ministry claiming talks focused on the need to "eliminate the insecurity imposed on the Strait caused by the aggressive actions."
- Oil prices reversed earlier losses on Tuesday, surging after the military interception, as WTI climbed 3.92% and Brent gained 3.86%, reviving concerns over global energy supplies.
- Asian markets traded higher with South Korea's KOSPI rising 1.75% and Japan's Nikkei gaining 0.25%, while Nasdaq futures advanced 0.48% in response to the escalation.
- U.S. forces remain vigilant and at a high state of readiness following the attempted attack, as traders monitor developments in the Middle East for potential energy supply disruptions.
46 Articles
46 Articles
Oil prices accelerated the gains of earlier and rising by more than 4%, with the new escalation of the conflict in the Middle East, following the resumption of military confrontations involving Iran, the United States and regional allies rekindling risks of interruption in the supply of energy. At around 8.50 a.m. (in Brasília) at Intercontinental Exchange (ICE), Brent oil for delivery in September rose 3.25% to $85.22 per barrel. Iran's Revolut…
Oil rises as US-Iran tension escalates after Iraq strikes
Oil prices were up nearly $3 a barrel today after joint strikes in Iraq by the US and Saudi Arabia, and the interception of Iran's ballistic missiles aimed at US forces in the Middle East, while US crude inventories shrank.
Oil Price Up More Than 3% After Iran Attacks
Oil prices jumped more than three percent in early Asian trade on Wednesday after the US military said it had intercepted multiple missiles launched by Iran.At around 0015 GMT, US benchmark West Texas Intermediate was up 3.67 per cent at $82.17 a barrel, while North Sea Brent crude had gained 3.39 per cent to $86.94. READ ALSO: S&P Global Acquires Majority Stake In Nigerian Ratings Firm, Agusto & CoTrump expressed hope that renewed diplomacy cou…
The Express Tribune
Oil rises as US-Iran tension escalates after Iraq strikes, missile attack
Brent futures increases by $3.30, or 3.9%, to $87.39 a barrel
Coverage Details
Bias Distribution
- 48% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
