WS #11741
US launches fresh strikes on Iran, Iran retaliates with ballistic missiles on US bases in Kuwait and Bahrain; Strait of Hormuz traffic collapses; oil prices fall despite escalation as traders bet on short-lived conflict. Oil prices fall (Brent -0.1%, WTI -0.5%) as traders bet US-Iran strikes will be short-lived, countering bullish supply disruption thesis.
US-Iran Conflict Escalation
US launches fresh strikes on Iran, Iran retaliates with ballistic missiles on US bases in Kuwait and Bahrain; Strait of Hormuz traffic collapses; oil prices fall despite escalation as traders bet on short-lived conflict.
Oil prices fall (Brent -0.1%, WTI -0.5%) as traders bet US-Iran strikes will be short-lived, countering bullish supply disruption thesis.