EMEA Oil Update: Crude Drops as US Reimposes Iran Blockade, Intensifies Strikes
EMEA crude futures fell in after-hours trading on Wednesday as markets assessed the impact of renewed US-Iran conflict, including the reimposition of the US blockade of Iranian ports and fresh military strikes, which further threaten to disrupt global energy supplies. Brent crude futures eased by 0.13% to $84.69 per barrel, while Murban crude futures retreated by 4.1% to $78.54/bbl. On Wednesday, the US launched a fresh round of attacks on Iran, hours after President Trump said military strikes would intensify next week if Tehran does not cooperate in peace negotiations. US Central Command said in a social media post on X that it had begun launching a wave of strikes against Iran at 6 a.m. ET on Wednesday. The strikes are designed to further degrade military capabilities that Iranian forces have used to attack commercial shipping in the Strait of Hormuz, US Centcom posted. Late on Tuesday, the US hit dozens of military targets near the strategic waterway and Iranian coastal areas in an operation that lasted seven hours. Iran, in response, has launched a wave of attacks on multiple Gulf countries, and Kuwait is bearing the brunt of the military strikes as Tehran steps up its.
EMEA crude futures fell in after-hours trading on Wednesday as markets assessed the impact of renewed US-Iran conflict, including the reimposition of the US blockade of Iranian ports and fresh military strikes, which further threaten to disrupt global energy supplies.
Brent crude futures eased by 0.13% to $84.69 per barrel, while Murban crude futures retreated by 4.1% to $78.54/bbl.
On Wednesday, the US launched a fresh round of attacks on Iran, hours after President Trump said military strikes would intensify next week if Tehran does not cooperate in peace negotiations.
US Central Command said in a social media post on X that it had begun launching a wave of strikes against Iran at 6 a.m.
ET on Wednesday.
The strikes are designed to further degrade military capabilities that Iranian forces have used to attack commercial shipping in the Strait of Hormuz, US Centcom posted.
Late on Tuesday, the US hit dozens of military targets near the strategic waterway and Iranian coastal areas in an operation that lasted seven hours.
Iran, in response, has launched a wave of attacks on multiple Gulf countries, and Kuwait is bearing the brunt of the military strikes as Tehran steps up its.