Escalation Continues as U.S. and Iran Face Off Over Hormuz
and Iran Face Off Over Hormuz What I Cover Tsvetana Paraskova is an energy and commodities journalist who has contributed to Oilprice.com for nearly a decade, covering global energy markets, commodities,… The United States is prepared for a continued exchange of fire with Iran over the Strait of Hormuz and Tehran’s attacks on commercial vessels in the chokepoint, U.S.
officials have toldAxios,while both sides continued to trade strikes early on Thursday.
is prepared for an escalation that could last from a day or two to multiple weeks to get Iran to back down from attacking ships in the Strait of Hormuz, a U.S.
Iran’s next moves will determine how long and how severe the U.S.
response will be, according to the official.
“We're going to slap them a bit so they understand we're not f*cking around,” the U.S.
Late on Wednesday, or early Thursday Iranian time, U.S.
Central Command (CENTCOM) forces completed anadditional round of strikesagainst Iran, “to further degrade Iran's ability to attack commercial shipping and innocent civilian mariners in the Strait of Hormuz,” the U.S.
Iran said that it had retaliated with strikes at Bahrain, Kuwait, and Qatar in a further escalation in the region.
Mohammad Bagher Ghalibaf, Iran’s top negotiator,posted on Xon Thursday that “America still hasn’t learned that bullying and breaking promises are no longer cost-free.
Let me put it plainly: if you strike, you’ll get hit.” “Don’t flail around pointlessly, or you’ll sink even deeper: the Strait of Hormuz will only open with “Iranian arrangements,” not American threats,” the chief Iranian negotiator said.
Administration believes it has more room for escalation as millions of barrels of oil have managed to exit the Strait of Hormuz in recent weeks, easing concerns about oil price spikes, 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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