US Strikes Iran for 13th Night, Oil Prices Soar
The United States military has launched attacks on Iranian military targets for the 13th consecutive night. US Central Command (CENTCOM) stated that the attacks were carried out to suppress threats from Iran's Revolutionary Guard Corps (IRGC) against commercial shipping.
CENTCOM said US forces launched the latest attacks on Thursday at 6:45 p.m. local time (22:45 GMT). The attacks are said to be aimed at holding Iran accountable and reducing the threat to commercial shipping lanes.
Tensions have escalated after US President Donald Trump said he was close to making a decision to launch a "major strike" against Iran. Trump said the scale of the attack could be greater than those seen during the conflict in recent months.
Trump also said that damage to the shipping sector caused by the Iranian attacks could be paid for using Iranian assets frozen abroad. This statement increases political and military pressure on Tehran amid a conflict that shows no signs of abating.
News of the latest attack immediately impacted crude oil prices. West Texas Intermediate, or WTI, rose 5.65% to US$90.77 per barrel, as market concerns resurfaced over potential supply disruptions and the security of energy shipping routes.
In terms of market impact, the US-Iran escalation has the potential to keep oil prices high and highly volatile. If the conflict escalates, Brent and WTI could receive an additional risk premium, while energy inflation could again pressure global markets. This situation also has the potential to support the US dollar as a safe haven, pressure risk assets, and cause gold to fluctuate according to geopolitical sentiment. (asd)*
Source: Newsmaker.id
