Oil prices rise over 1.8% after U.S. strikes in Iran raise Strait of Hormuz disruption fears
By
Lee Ying Shan
Plain bagel done well. Pleasantly substantive.
Summary
Oil prices surged over 1.8% on Thursday following fresh U.S. military strikes in Iran, which renewed fears of disruptions to commercial shipping through the strategically vital Strait of Hormuz. Brent crude reached $96 per barrel and WTI hit $90.33 per barrel. American forces targeted a military site believed to threaten U.S. troops and shipping, and also intercepted Iranian drones.
Key quotes
· 3 pulledOil prices rose on Thursday after fresh U.S. strikes in Iran renewed concerns over disruptions to commercial shipping through the Strait of Hormuz.
American forces launched fresh strikes in Iran against a military site believed to threaten U.S. troops and commercial shipping through the Strait of Hormuz, a U.S. official told MS NOW.
They also reportedly intercepted and downed several Iranian drones.
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