Oil Prices Jump After US Attacks On Iran
Oil prices rose sharply after the United States launched fresh attacks on Iranian targets, raising fears of wider supply disruption in the Gulf and renewed pressure on shipping through the Strait of Hormuz.
Oil Prices Rise After US Iran Attacks
Brent crude climbed by more than 3% to trade near $98 per barrel, while US West Texas Intermediate also rose by over 3% to around $92 per barrel. The increase came after fresh US strikes on Iranian military targets and reports of Iranian retaliation against a US airbase.
The rise reversed part of the previous session’s losses, when prices had eased on hopes that diplomatic talks could reduce tensions and help reopen secure energy movement through the region.
Strait Of Hormuz Risk Drives Market Fear
The Strait of Hormuz remains one of the world’s most important oil and gas transit routes. Any threat to shipping through the narrow waterway can quickly affect global crude prices, fuel costs and inflation expectations.
Market concerns intensified after the US said its latest action was aimed at protecting American forces and commercial shipping. Iran’s response added to fears that the conflict could further disrupt tankers, insurance costs and energy supply chains.
Crude Market Faces Fresh Volatility
Oil traders are also watching supply data and diplomatic signals closely. US crude inventories reportedly fell for another week, adding support to prices at a time when geopolitical risks are already elevated.
Analysts expect oil prices to remain volatile as long as military action continues near the Gulf. Any further escalation could push prices higher, while a credible ceasefire or shipping agreement may ease pressure on global energy markets.
