The last time WTI prices broke the $100 per barrel mark was in May, after which they fell following the announcement of an interim peace agreement with Iran. That agreement has since expired, and global markets are responding as hostilities continue.
US-Iran War Roars Back As Tankers Incinerate, Missiles Fly And Oil Tops $100
State of the Union: As tit-for-tat fighting continues, Tehran appears more willing to escalate. The post Iran War Day 194: Oil Hits $100 Per Barrel appeared first on The American Conservative .
The price of Brent crude hit $100 per barrel Wednesday morning after heavy fighting between the U.S. and Iran. That’s the highest level since late July for the key international benchmark. U.S. Central Command said Tuesday evening it had struck Iranian assets: “CENTCOM forces destroyed five Iranian crude oil carriers, Sept. 8, after the Islamic Revolutionary Guard Corps (IRGC) targeted a U.S. Navy warship with ballistic missiles twice over the past two days.” The IRGC, a force in the Iranian military, painted a different picture of its own preceding attacks, saying it had successfully damaged two warships in ballistic missile strikes. After the U.S. strikes on Tuesday, Iran launched missiles at Jordan, which hosts American…Open
Brent crude oil prices, a benchmark for global trading, climbed on Wednesday.
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Investors are focused on strong corporate earnings and A.I., while looking past the war in Iran. But rising interest rates are an increasing risk to the rally.
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Rising oil prices have added to existing inflationary pressures and exacerbated a bond-market sell-off earlier this week.
Rising oil prices have added to existing inflationary pressures and exacerbated a bond-market sell-off earlier this week.Open
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