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Strait of Hormuz on Alert as US Strikes Iran and Israel Threatens Tehran, Oil Nears $100

From Liberty Times · () Chinese

Translated from Chinese and summarized by DistantNews. Read the original for the full story.

At a glance

Newswire Named sources Ongoing story
  • Brent crude fell 11 cents to $95.52 a barrel, while US West Texas Intermediate rose 29 cents to $91.30 after both contracts reached six-week highs earlier in the session.
  • Concerns about Middle East supply disruptions increased after US strikes on Iran and a renewed Israeli warning against Tehran, while Russian President Vladimir Putin’s openness to peace talks pressured prices.
  • Six bulk commodity vessels crossed the Strait of Hormuz on Wednesday, down from 11 the previous day and below the 10-day average of about 13.

Oil markets ended Thursday in opposite directions as the US attack on Iran and Israel’s latest threat against Tehran revived fears that shipments from the Middle East could be disrupted. Brent crude futures slipped 11 cents, or 0.12%, to settle at $95.52 a barrel. US West Texas Intermediate futures gained 29 cents, or 0.32%, to $91.30. Both contracts had touched six-week highs earlier in the day.

Iran’s health minister said US strikes across Iran late Tuesday killed 18 people and injured 108. The Iranian Red Crescent said four people died and 67 were injured at a wedding near the Strait of Hormuz. Iran’s semi-official Tasnim news agency also reported that three Iranian army pilots were killed in the attacks.

US Vice President JD Vance told reporters Thursday that Washington did not intend to hold talks with Tehran unless Iran stopped attacking commercial shipping in the Strait of Hormuz. Israeli Defense Minister Israel Katz issued another warning, saying Israel would “paralyze” Iran’s military and civilian infrastructure, including energy facilities, if Tehran attacked Israel. Saxo Bank analyst Ole Hansen said Katz’s remarks helped push oil prices higher. UBS analyst Giovanni Staunovo said traders would focus on whether the US strikes were a one-time event or would happen again.

The market will focus on whether the US attacks earlier this week were a one-time event or whether they will happen again.

· Giovanni StaunovoThe UBS analyst described the question facing oil traders after the US strikes on Iran.

Putin said Thursday that a deal to end the war in Ukraine remained possible and that several countries, including the United States and China, were prepared to support a peace agreement. Price Futures Group analyst Phil Flynn said the comments suggested Putin remained open to negotiations. A reduction in attacks on refineries and a return to normal production could ease concerns about interruptions to Russian fuel supplies, putting pressure on oil prices.

Preliminary shipping data showed that six bulk commodity carriers passed through the Strait of Hormuz on Thursday’s reported figures, compared with 11 the day before and an average of about 13 over the previous 10 days.

Paralyze

· Israel KatzThe Israeli defense minister warned that Israel would target Iran’s military and civilian infrastructure, including energy facilities, if Tehran attacked Israel.
About this summary

Originally published by Liberty Times in Chinese. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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