WS #12332
US and Iran exchange attacks for seventh consecutive night; Iran strikes Kuwait power plant and US base in Jordan; Strait of Hormuz shipping nearly halted; oil prices surge 16% for the week. Brent crude settles at $88.10/bbl, WTI at $82.49, both up ~16% for the week as Hormuz blockade tightens; only 8 ships passed on July 16.
US-Iran Conflict Escalation
US and Iran exchange attacks for seventh consecutive night; Iran strikes Kuwait power plant and US base in Jordan; Strait of Hormuz shipping nearly halted; oil prices surge 16% for the week.
Brent crude settles at $88.10/bbl, WTI at $82.49, both up ~16% for the week as Hormuz blockade tightens; only 8 ships passed on July 16.