Oil surpasses $90 after strikes
The execution of the American forces' first announced strike against Iranian targets since late July led to a surge in oil prices by more than 3%, surpassing the $90 per barrel mark. The strike came after the targeting of two Iranian Revolutionary Guard missile platforms on Larak Island, resulting in casualties and injuries. Iran responded by targeting American bases in Jordan. As tensions escalate, the market remains cautious about the continued deterioration of supplies through the Strait of Hormuz, amid concerns over the worsening crisis and its impact on global inventories.
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