Oil prices rise after US strikes on Iran's Qeshm Island

ethnos.gr (Greek) —

Oil prices rose in early Tuesday trading after reports that the United States struck Iran's Qeshm Island, with Brent and WTI both gaining 0.5%. The increase follows Monday's sharp losses. Brent crude climbed 48 cents to $105.25 per barrel, while West Texas Intermediate rose 47 cents to $96.93. The Wall Street Journal, citing US officials, reported the strikes were "defensive" and aimed at preventing Iran from attacking commercial ships in the Strait of Hormuz. Monday saw Brent fall 7.63% to $104.77 per barrel. Investors are now assessing the potential impact of the military action on shipping through the strategic strait.


With a significance score of 2.6, this news ranks in the top 15% of today's 31632 analyzed articles.

Get summaries of news with significance over 5.5 (usually ~10 stories per week). Read by 10,000+ subscribers: