Oil Prices Jump After Iran Attacks Commercial Vessels
AI Summary
Oil prices rose following Iranian attacks on commercial vessels near the Strait of Hormuz and the US cancellation of a sanction waiver on Iranian crude exports. Brent crude traded at $76.58 per barrel and West Texas Intermediate at $72.74 amid escalating military tensions affecting energy markets.
Crude oil prices moved higher today, extending gains from earlier this week after the United States and Iran exchanged military strikes again, following Iran’s attacks on three vessels off the Omani coast. The United States also canceled its sanction waiver for Iranian crude in response to the flare-up. At the time of writing, Brent crude was trading at $76.58 per barrel, with West Texas Intermediate at $72.74 per barrel, on news reports that Iran had struck three vessels near Hormuz, of which one was a Qatari LNG carrier, one a Saudi oil…