Oil Prices Climb as U.S. Strikes Tanker and Downs Iranian Drones
Goldman Sachs CEO Warns Oil Shock Could Alter Consumer Behavior Josh Owens is the Content Director at Oilprice.com and a veteran energy journalist with over a decade of experience covering global energy markets and geopolitics.… Oil prices rose in early Asian trade on Wednesday after yet another escalation in the Middle East, with Iran firing missiles at Kuwait and Bahrain, and the U.S.
firing on and disabling an oil tanker heading toward Iran.
At the time of writing,Brent front-month futureshad climbed 1.09% to trade at $97.05 per barrel, whileWest Texas Intermediatehad risen 1.19% to $94.88 per barrel.
Both benchmarks are trading near one-week highs after posting strong gains in the previous session.
Central Command (CENTCOM),Iran firedtwo missiles toward Kuwait, which either fell short or broke apart before reaching their targets.
It then fired three at Bahrain, which were intercepted by U.S.
also claimed to have shot down three one-way attack drones launched toward civilian mariners that were transiting the Strait.
forces fired on and disabled an unladen oil tanker that was attempting to reach Iran's largest oil export terminal at Kharg Island.
CENTCOMreportedthat the Botswana-flagged M/T Lexie ignored multiple orders over a 24-hour period and continued toward the Arabian Gulf port.
The vessel was ultimately stopped when a U.S.
aircraft fired a Hellfire missile into the ship's engine room, rendering it unable to continue its voyage.
The tanker incident marks the sixth time since April 13 that U.S.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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