Oil prices moved modestly higher on Tuesday after renewed security incidents in the Strait of Hormuz revived concerns over potential disruptions to global energy shipments, offsetting expectations of stronger supply from OPEC+ producers.
By 04:41 ET (08:41 GMT), Brent crude futures had risen 1.1% to US$72.77 a barrel, while US West Texas Intermediate crude futures gained 1.1% to US$69.30 a barrel.
According to Axios, citing two US officials, Iran's military launched at least two missiles at commercial vessels transiting the Strait of Hormuz on Monday night, ending a week-long pause in attacks under an informal understanding between Washington and Tehran.
The report added that the United States is expected to respond with strikes against Iranian targets.
Earlier on Tuesday, the UK Maritime Trade Operations agency confirmed it had received a report that a tanker travelling near the coast of Oman had been struck by an unidentified projectile, causing a fire onboard. Although Iran has not officially claimed responsibility, anonymous sources cited by Iranian state television suggested the target was a tanker carrying liquefied natural gas from Qatar.
By 04:41 ET (08:41 GMT), Brent crude futures had risen 1.1% to US$72.77 a barrel, while US West Texas Intermediate crude futures gained 1.1% to US$69.30 a barrel.
According to Axios, citing two US officials, Iran's military launched at least two missiles at commercial vessels transiting the Strait of Hormuz on Monday night, ending a week-long pause in attacks under an informal understanding between Washington and Tehran.
The report added that the United States is expected to respond with strikes against Iranian targets.
Earlier on Tuesday, the UK Maritime Trade Operations agency confirmed it had received a report that a tanker travelling near the coast of Oman had been struck by an unidentified projectile, causing a fire onboard. Although Iran has not officially claimed responsibility, anonymous sources cited by Iranian state television suggested the target was a tanker carrying liquefied natural gas from Qatar.
3 months ago
