Oil Prices Hit 6-Week High as US-Iran Tensions Escalate
Crude surged to a six-week peak after the US struck Iran for an 11th consecutive night and Trump threatened broader infrastructure attacks.
Oil prices settled at six-week highs Wednesday after the United States carried out strikes against Iran for the 11th consecutive night, deepening fears that a diplomatic off-ramp is rapidly disappearing. The latest military action pushed crude benchmarks above $95 a barrel as traders priced in a growing risk of prolonged conflict in one of the world's most strategically critical energy corridors.
President Donald Trump escalated his rhetoric sharply, warning that the US would target Iranian bridges and power plants if Tehran directed fire at vessels transiting the Strait of Hormuz. That narrow waterway is the chokepoint through which a significant share of global oil supplies flows, making any credible threat to navigation there an immediate concern for commodity markets worldwide.
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The combination of sustained military strikes and explicit threats against civilian infrastructure signals that both sides are hardening their positions rather than moving toward de-escalation. Analysts note that the longer the conflict persists without diplomatic engagement, the greater the probability that physical oil supply disruptions — rather than just fear premiums — could begin to affect global markets.
Energy traders are watching the Strait of Hormuz situation with acute attention, since even a partial disruption to tanker traffic could send prices considerably higher than current levels. The back-to-back nights of US strikes have already erased expectations for a near-term resolution and injected fresh volatility into an oil market that had been gradually stabilizing before hostilities intensified.
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