Oil prices rise after U.S. blocks surprise attack from Iran
Crude climbed more than 4% as the U.S. said it intercepted all Iranian missiles and traders priced in renewed supply risks.
- On Wednesday, oil prices surged more than $3 a barrel after U.S. Central Command intercepted multiple ballistic missiles launched by the Islamic Revolutionary Guard Corps at U.S. forces in the Middle East on Tuesday.
- Tensions escalated following precision strikes by U.S. and Saudi forces against Iran-aligned militants in eastern Iraq, whom the coalition blamed for drone attacks on regional energy infrastructure.
- Data from the American Petroleum Institute showed U.S. crude inventories fell by about 3.3 million barrels last week, while OPEC+ sources suggest a pause in planned output increases starting in October.
- Tehran rejected an Omani proposal for regional joint management of the Strait of Hormuz, signaling that diplomatic efforts to secure the critical waterway remain stalled.
- Analysts expect crude prices to remain volatile in the $80–$100 range as traders monitor Middle East hostilities, with any disruption to seaborne energy flows posing a key risk to global markets.
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71 Articles
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Oil prices jump, and US stocks fall following fighting in the Middle East
Oil prices are back to jumping, while the U.S. stock market is falling ahead of a Federal Reserve decision on what to do with interest rates. The S&P 500 slipped 0.4% Wednesday. The Dow Jones Industrial Average dropped 614 points,…
Oil prices rose sharply on Wednesday after US President Donald Trump said that the United States would hit Iran hard as reprisals for an attempt to attack the US forces in the Middle East, CNBC reports. Future contracts for Brent's oil, the international record, rose by about 7%, reaching $89.94 per barrel. ...
Shafaq News - Oil prices jumped 6.5% in global markets on Wednesday afternoon following threats made by US President Donald Trump against Iran. According to global exchanges, the price of a barrel of oil reached nearly $90, driven by Trump's statements threatening to "strike Iran hard," amid growing fears of disruptions to global energy supplies and renewed clashes in the region. Trump added, "I'll let them keep talking. We will strike them in r…
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