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Oil Jumps as US and Iran Trade Strikes, Dispute Hormuz Status
Key Points
Markets Oil Jumps as US and Iran Trade Strikes, Dispute Hormuz Status Oil jumped as the US and Iran exchanged fresh strikes, with the sides offering conflicting statements on whether the Strait of Hormuz remains open to shipping. Brent rose above $78 a barrel after gaining 5.4% last week, while West Texas Intermediate traded near $74 and European natural gas added as much as 2.7%. Iran said the strait would now be closed “until further notice” — a statement denied by US Central Command,...
Markets
Oil Jumps as US and Iran Trade Strikes, Dispute Hormuz Status
Oil jumped as the US and Iran exchanged fresh strikes, with the sides offering conflicting statements on whether the Strait of Hormuz remains open to shipping.
Brent rose above $78 a barrel after gaining 5.4% last week, while West Texas Intermediate traded near $74 and European natural gas added as much as 2.7%. Iran said the strait would now be closed “until further notice” — a statement denied by US Central Command, which said that its forces started more attacks to ensure freedom of navigation through the waterway.