Brent Briefly Breaks $90 After Fresh Iran War Escalation
Europe Faces Diesel Crunch as Inventories Head Toward Multi-Year Lows Brent Crude prices briefly hit $90 per barrel in Asian trade on Monday as the Middle East conflict continued to escalate with fresh U.S.
strikes on Iran and Tehran targeting American bases in the region and vessels in the Strait of Hormuz.
benchmark,WTI Crude, were up by 2% in early Asian trade, although prices did then fall back as the session continued.
The most recent rally extended last week’s jump as U.S.
forces launched a new wave of strikes against Iran at 7 p.m.
ET on Sunday forthe ninth consecutive night.
“The strikes will continue degrading Iranian military capabilities used to attack commercial vessels and civilian mariners transiting the Strait of Hormuz,” the U.S.
Iran’s Islamic Revolutionary Guard Corps (IRGC)claimedon Monday they had targeted U.S.
aircraft at the Aqaba airport in Jordan with ballistic missiles, and U.S.
military assets and equipment at Kuwait's Al-Adiri camp and Ali Al Salem Air Base, and in Syria.
The Revolutionary Guards also said two oil tankers exploded and were immobilized after attempting to transit the Strait of Hormuz via the southern lane close to Oman, which Iran says is unsafe.
Secretary of State, said the United States would continue its strikes on Iran until Tehran continues to attack vessels in the Strait of Hormuz.
| 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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