World oil prices jumped on Wednesday, with the benchmark international contract Brent North Sea crude surpassing $95 for the first time in nearly six weeks as the United States and Iran carried out more strikes.
Crude futures went on to give up some of the gains but still rose around three percent.
“The military actions have been renewed at an extraordinary high,” said John Kilduff of Again Capital. “And the rhetoric is as hot as it’s been since the beginning of the war.”
US President Donald Trump threatened to knock out one Iranian bridge or power plant in return for each attack on shipping in the Strait of Hormuz.
Foreign Minister Abbas Araghchi said Iran would respond in kind to any attack on its infrastructure, saying on X, “our defense doctrine is clear: eye for an eye.”
Meanwhile, maritime data analyzed by AFP showed that at least nine ships had
This post was originally published on this site.
