Published • loading... • Updated
Oil Climbs as US Resumes Military Strikes on Iran
Renewed U.S.-Iran tensions and Houthi shipping threats pushed Brent toward $90 and WTI above $84 before a key Federal Reserve rate decision.
- Oil prices surged more than 7% on Wednesday as renewed U.S.-Iran hostilities and fresh threats to shipping through the Bab el-Mandeb Strait pushed WTI above $84 and Brent toward $90.
- President Donald Trump told Fox News the United States would "hit Iran hard" following an attack on a U.S. base in Jordan, escalating regional tensions that fueled the oil rally.
- Iran-Backed Houthis threatened to impose transit fees on commercial shipping, while Saudi Arabia began rerouting crude exports through the SUMED pipeline to bypass Red Sea disruptions.
- Policymakers face this inflation shock just hours before the Federal Reserve's interest-rate decision, leaving investors divided over whether to leave rates unchanged or address renewed price risks.
- Broader market sentiment remains volatile as investors balance geopolitical risks against corporate earnings, with the Vanguard S&P 500 ETF slipping 0.9% on Wednesday.
Insights by Ground AI
Podcasts & Opinions
19 Articles
19 Articles
The futures of crude react to the U.S. offensive against Revolutionary Guard targets, while the market awaits Sunday's OPEC+ meeting
·Las Condes, Chile
Read Full Article
Oil Climbs as US Resumes Military Strikes on Iran
Oil prices rose for a second day on Thursday as renewed attacks between the United States and Iran disrupted oil flows through key shipping routes.Brent futures LCOc1 rose $1.06, or 1.17%, to $91.80 a barrel as of 0812 GMT after touching a low of $89.02 in the session.U.S.
Oil prices rose sharply on Wednesday after US President Donald Trump said the United States would respond "with force" to an alleged surprise attack by Iran on US troops in the Middle East, CNBC reports.
Texas Intermediate Oil (WTI) this Wednesday rose by 6.66%, to $84.54 a barrel.
·Madrid, Spain
Read Full ArticleCoverage Details
Total News Sources19
Leaning Left0Leaning Right2Center5Last UpdatedBias Distribution71% Center
Bias Distribution
- 71% of the sources are Center
71% Center
C 71%
R 29%
Factuality
To view factuality data please Upgrade to Premium
