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Brent crude settled around $98 and kept climbing after reports of explosions near Kharg. The US military struck targets near Kharg Island and Jask, including Iranian oil tankers. Iran also outlined a new Oman–Strait of Hormuz shipping corridor.
Crude oil climbed back to $94 a barrel, the highest in six weeks, as supply-disruption concerns grew after US strikes near Kharg Island and Jask, and reports of attacks on Saudi Aramco facilities.
Iran’s Tasnim News Agency, via Reuters, said an Iranian tanker was targeted by a U.S. missile attack four miles from Kharg Island and hit by a projectile near the anchorage; local sources cited no casualties and evacuation underway.
U.S. Central Command confirmed Saturday that American forces struck three Iranian crude oil tankers, disabling two near Iran’s key export hub of Kharg Island and destroying a third in the Gulf of Oman, in what it described as retaliation for an Iranian attack on U.S. Navy warships. CENTCOM: Strikes Followed Failed IRGC
Iran’s economy is starting to buckle six months into its war with the United States and Israel under the weight of a near-total oil export blockade imposed by the U.S. military. The United States has intensified economic pressure on Tehran, a campaign that President Donald Trump had previewed as "economic D-Day" for Ir