U.S.-Iran hostilities escalate, sending oil prices higher
Translated from Chinese and summarized by DistantNews. Read the original for the full story.
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- Worsening U.S.-Iran hostilities fueled concern that energy shipments through the Strait of Hormuz could face prolonged disruption.
- West Texas Intermediate crude rose 5.2% to $90.22 a barrel, while Brent crude gained 4.6% to $94.65.
International oil prices ended higher after the United States said it had launched a new round of strikes against Iran.
Tehran said it had taken decisive action against U.S. military targets in the Middle East in retaliation. The escalation heightened market concerns that energy shipments through the Strait of Hormuz could face prolonged disruption.
West Texas Intermediate crude for October delivery rose $4.46, or 5.2%, to settle at $90.22 a barrel on the New York Mercantile Exchange. It was the first time since late July that WTI had closed above $90.
Brent crude for November delivery rose $4.16, or 4.6%, to settle at $94.65 a barrel.
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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