Prices of crude oil rose around 2% as renewed tensions between the United States and Iran fueled concerns over supplies through the Strait of Hormuz. The move followed US strikes on Iranian missile launchers on Larak Island and subsequent Iranian attacks targeting US forces in Jordan. At 11:33 pm ET, West Texas Intermediate (WTI) for October settlement rose 1.85% to $84.99 per barrel, while Brent for November delivery gained 2.11% to $90.15 per barrel at 11:46 pm ET.
US strikes Iranian launchers on Larak Island
United States forces struck two Iranian launchers on Larak Island on Sunday, Axios’ Global Affairs Correspondent Barak Ravid reported, citing a US official. “Earlier today, U.S. forces struck two Iranian launchers on Larak Island. Islamic Revolutionary Guard Corps forces were observed preparing to launch rockets with sea mines into the Strait of Hormuz,” Ravid quoted the official as saying. Separately, the IRGC-affiliated Fars News Agency reported that an explosion was heard near Larak Island, but said its cause was unknown. The reported strike comes amid continued tensions over the Strait of Hormuz, which Tehran maintains remains closed to vessels without its permission.
NN: I guess we could say the memorandum of peace is dead:
