Oil gains over 1% on fresh tensions in Strait of Hormuz
Oil drilling rigs
Oil prices rose by more than 1% during trading today, July 9, following a new wave of US military strikes on targets in Iran, which undermined market hopes for successful negotiations to end the war and dashed aspirations for a full reopening of the Strait of Hormuz.
The US Central Command confirmed that it carried out strikes targeting approximately 90 Iranian military sites, including air defense systems, missile depots, drones, and military logistics infrastructure along the Iranian coast, Reuters reported.
Earlier, President Donald Trump had declared the end of the interim agreement to end the war, during his speech at the NATO summit on July 8, describing the Iranian leadership as deceitful and considering the continuation of talks with them a "waste of time".
|
Brent, WTI Futures Prices |
|||
|
Crude |
Price ($/bbl) |
Change ($) |
Change |
|
Brent (September delivery) |
78.93 |
0.91 |
1.15% |
|
WTI (August delivery) |
74.37 |
0.85 |
1.15% |
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