Crude prices climbed to their highest level since mid-May following reports of renewed strikes on Iran on Tuesday. West Texas Intermediate (WTI) for October settlements surged 3.93% to $89.74 per barrel at 12:29 pm ET, while Brent for November deliveries skyrocketed 4.03% to $94.07 per barrel.
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CENTCOM confirms new US strikes on Iran
United States Central Command (CENTCOM) confirmed on Tuesday that US forces started striking Islamic Revolutionary Guard Corps (IRGC) targets in Iran at 12 pm ET, following attempted attacks against commercial shipping in the Strait of Hormuz and US troops in the region.
More to come…