Oil rises after another round of U.S. strikes against Iran, naval blockade of the country's ports
Oil prices rose in choppy trading Wednesday as U.S. forces carried out another round of strikes against Tehran and Washington reinstated its naval...
Key points
- Oil prices rose in choppy trading Wednesday as U.S.
- forces carried out another round of strikes against Tehran and Washington reinstated its naval blockade of Iranian ports near the Strait of Hormuz.
- West Texas Intermediate futures for August delivery rose 1.01% to $80.14 per barrel.
- Central Command said late Tuesday stateside that it had carried out another wave of strikes against Iran late Tuesday, targeting dozens of military assets near the Strait of Hormuz and along Iran's coastline in a seven-hour operation.
What happened
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Oil prices rose in choppy trading Wednesday as U.S. forces carried out another round of strikes against Tehran and Washington reinstated its naval blockade of Iranian ports near the Strait of Hormuz. West Texas Intermediate futures for August delivery rose 1.01% to $80.14 per barrel. Central Command said late Tuesday stateside that it had carried out another wave of strikes against Iran late Tuesday, targeting dozens of military assets near the Strait of Hormuz and along Iran's coastline in a seven-hour operation. The attacks, involving fighter aircraft, drones and naval vessels, struck missile and drone facilities, naval assets and coastal defense systems to further degrade Iran's ability to threaten commercial shipping, Centcom said. forces resumed a naval blockade on vessels traveling to and from Iranian ports earlier in the day.