A ship seen in the Strait of Hormuz off the coast of Bandar Abbas, a port city in southern Iran, on August 10, 2026.
Atta Kenare | AFP | Getty Images
Oil prices rose on Monday amid growing concerns about supply disruptions after the U.S. military attacked two Iranian rocket launchers on Larak Island on Sunday.
International benchmark futures brent crude oil Oil for November delivery rose 1.54% to $89.46 per barrel. us West Texas Intermediate Futures In October, it rose 1.44% to $84.60 per barrel.
“Earlier today, we can confirm that U.S. forces struck two Iranian launch pads on Larak Island. Islamic Revolutionary Guard Corps units were observed preparing to launch mine-laden rockets into the Strait of Hormuz,” Navy Capt. Tim Hawkins, spokesman for U.S. Central Command, said in a statement.
According to the Associated Press, Sunday’s attack was the first publicly acknowledged attack by the United States on Iranian positions since late July.
Iran’s Revolutionary Guards said, based on Iranian media reports, that several Iranian soldiers were killed or injured in the US attack on Larak Island, adding that it responded with an attack on a US military base in Jordan.
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Ship traffic through the Strait of Hormuz, an important route for the world’s energy transport, has been severely disrupted by the Middle East conflict that has been going on for half a year.
“Supply risks remain and oil inventories will continue to be depleted in the coming weeks and months,” said Tamas Varga, an analyst at PVM Oil Associates, adding that “the Iran crisis has likely changed the security landscape in the Middle East.”
“Increased strikes against refineries in the Middle East and Russia are further constraining already strained global refining capacity and pushing refined product margins to new highs,” Goldman said in a note.
—CNBC’s Anniek Bao contributed to this report.
