Oil Prices Surge as U.S. and Iran Exchange Strikes
Trump Says Venezuelan Oil Will Refill U.S.
Strategic Petroleum Reserve 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 climbed in early Asian trade on Monday after the U.S.
struck Iran for the first time in over a month, with Iran then retaliating against U.S.
At the time of writing,WTI front-month futureswere trading at $85.46 per barrel, up 2.47%, whileBrent front-month futureshad climbed 2.71% to $90.49 per barrel.
The latest escalation started on Sunday when U.S.
forces struck two Iranian rocket launchers on Larak Island, which sits inside the Strait of Hormuz.
Central Command spokesperson, the attack came after the IRGC were observed “preparing to launch rockets with sea mines into the Strait of Hormuz.” CENTCOM laterdescribedthe action as a “limited, precise action against IRGC minelaying forces posing an imminent threat in the Strait of Hormuz.” It was only last week that President Trumpclaimedthat the U.S.
had finished clearing mines from the Strait and warned that any ship or boat placing new mines would be “immediately and systematically destroyed”.
Iran responded to the Larak strike by launching ballistic missiles and drones at U.S.
The Jordanian Armed Forcessaidon Monday morning that its air defenses had intercepted and destroyed eight missiles after they entered Jordanian airspace.
The IRGC thenconfirmedthat it had targeted technical and maintenance infrastructure and fighter aircraft positions at two U.S.
bases in Jordan and warned that Iran would “forcefully respond” to every new 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% |
Comments
Post a Comment