WS #12160
US launches fifth straight day of strikes on Iran, targeting military sites near Strait of Hormuz; Iran threatens to shut down all Middle Eastern oil exports; shipping companies refuse US escort; US Treasury sanctions Iran weapons procurement network. Brent crude falls 1.31% to $83.62, WTI down 1.02% to $78.53, as smaller-than-expected US crude inventory draw and hopes for diplomacy outweigh supply disruption fears.
US-Iran Conflict Escalation
US launches fifth straight day of strikes on Iran, targeting military sites near Strait of Hormuz; Iran threatens to shut down all Middle Eastern oil exports; shipping companies refuse US escort; US Treasury sanctions Iran weapons procurement network.
Brent crude falls 1.31% to $83.62, WTI down 1.02% to $78.53, as smaller-than-expected US crude inventory draw and hopes for diplomacy outweigh supply disruption fears.