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US strikes Iran again for 13th straight night, lifting WTI

WTI was up 5.7% to $90.77 as the renewed US action was framed as aimed at reducing IRGC threats to commercial shipping.

Reported · Written up by our desk · Energy

US Central Command said it is carrying out strikes on Iranian military targets for the 13th consecutive night, with the stated goal of holding Iran accountable and reducing threats from the Islamic Revolutionary Guard Corps to commercial shipping, according to FXStreet citing the Guardian.

The news follows comments from US President Donald Trump on Thursday saying he was close to deciding whether to launch a “massive attack” against Iran on a scale larger than earlier strikes.

Following the headlines, crude oil prices attracted some buyers, with West Texas Intermediate up 5.7% on the day to $90.77, FXStreet noted.

FXStreet also outlined that WTI, a US benchmark grade, is driven by supply and demand factors, while political instability, wars, and sanctions can affect supply, and the US dollar’s value can influence pricing since oil is predominantly traded in US dollars.

Latest closeWTI crude $92.23 ▲6.2%

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