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U.S. expands strikes on Iran as Brent holds near $85
Brent traded around $84.65 per barrel Wednesday afternoon, slightly lower on the day, even as the U.S. targeted Iranian coastal defense systems and other military sites near Bandar Abbas and Bushehr.
The U.S. launched another wave of strikes against Iran on Wednesday, expanding attacks on military targets along the country’s southern coast, according to OilPrice.
The outlet said U.S. Central Command described the daytime operation as targeting Iranian coastal defense systems, cruise missile storage sites, launch positions, and military facilities near Bandar Abbas, Bushehr, Qeshm, and Greater Tunb Island.
OilPrice reported that Brent crude barely moved, with the global benchmark trading around $84.65 per barrel Wednesday afternoon despite the escalation in fighting tied to the Strait of Hormuz.
The report also noted that Tehran has warned it could broaden actions against global energy exports beyond the Strait of Hormuz, prompting some shipping companies to adjust, including declining participation in U.S.-guided transits through the waterway.
Latest closeWTI crude $80.18 ▲1.1%|Brent $85.39 ▲0.8%