TEHRAN, IRAN – MARCH 10: Smoke billows between residential buildings after an Israeli attack on Tehran, Iran on March 10, 2025. The Israeli military has announced a new wave of attacks on Tehran. (Photo by Fatemeh Bahrami/Anadolu via Getty Images)
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Oil rose on Thursday as new U.S. military attacks on Iran raised concerns about supply disruptions in the Middle East.
International benchmark futures brent crude oil Prices for September delivery rose 1.03% to $78.82 per barrel. us West Texas Intermediate Futures In August, the price rose 1.06% to $74.29 per barrel. Prices were up more than 4% on Wednesday.
brent crude oil
U.S. Central Command announced Wednesday that a new offensive against Iran has been launched in response to the Iranian government’s attacks on commercial shipping in and around the Strait of Hormuz.
US President Donald Trump also indicated on the same day that he was no longer interested in negotiating a deal with Iran. Earlier, he also said the ceasefire between Iran and the US was “over” following a new wave of attacks in the Middle East.
“New attacks on shipping and a broader breakdown in US-Iranian relations are forcing markets to again price in risks that could delay the normalization of flows in the Strait of Hormuz,” Saxo said.
Since the Strait of Hormuz is one of the world’s most important energy chokepoints, “even limited disruptions could have a significant impact on rapid pricing, transportation costs and market sentiment,” it added.
