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Brent crude surges above $90! Risk of uncontrolled U.S.-Iran conflict escalates sharply, with three U.S. military personnel killed in two days—Trump faces a critical test.
Trump previously warned Iran that it would face a stronger response if it killed U.S. military personnel. Now, with consecutive U.S. military deaths and escalating attacks between both sides, tensions in the Middle East are once again approaching a dangerous tipping point.
Asian Currencies Consolidate; May Weaken Amid Escalating Mideast Conflict -- Market Talk
U.S. missile strike hits Iranian oil hub; three regional countries again report attacks by Iran
Gelonghui, July 20 | According to CCTV, on the 19th local time, following another round of airstrikes on Iran, U.S. forces struck Abadan, a major Iranian oil hub. On the same day, Iran’s military announced it had successfully shot down a U.S. MQ-9 drone and intercepted an American cruise missile in western Iran. Also on the 19th, Jordan, Kuwait, and Bahrain reported they had again been targeted by Iranian attacks.
Brent crude surges above $90 as escalating U.S.-Iran tensions threaten shipping through the Strait of Hormuz
Brent crude surged sharply as hostilities between the United States and Iran escalated over the weekend, including the targeting of vessels attempting to pass through the Strait of Hormuz and an attack on a key oil facility in Kuwait. The global crude benchmark rose more than 3%, reaching around $91 per barrel—the highest level since mid-June—while WTI crude approached $85 per barrel. Tehran stated that the de facto ceasefire between the U.S. and Iran has effectively collapsed, raising concerns that energy shipments through the Strait of Hormuz could face even greater disruption. On Sunday, the Iranian navy reported that four unidentified vessels had attempted to transit the Strait of Hormuz 'unsafely.'
Stock Futures Head Lower, Oil Rises After Escalation in Iran War -- Barrons.com
Stock Futures Likely to Reflect Latest Escalation in Iran War -- Barrons.com