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US launches strikes against Iran, WTI falls on the day
WTI was down 1.3% to $82.5 as the US Central Command began retaliatory strikes after Iranian missile attacks on American forces in the region.
The US Central Command (CENTCOM) began launching strikes against Iran late Wednesday, retaliating for Iranian missile attacks on American forces in the region, according to the Guardian as cited by FXStreet.
Iranian media said the US military hit the south-western Iranian city of Abadan and Qeshm Island. The action followed comments from US President Donald Trump saying the United States would respond very hard to new attacks on US forces in the Middle East.
The Wall Street Journal reported that Trump was considering whether to launch a renewed military campaign against Iran, with the US military preparing plans for an intensive two-week air operation focused on Iran’s missile capabilities.
As the news broke, West Texas Intermediate was down 1.3% on the day at $82.47, with FXStreet noting that WTI is a key benchmark for crude oil markets and is influenced by factors including supply disruptions and the US dollar’s value.
Latest closeWTI crude $95.27 ▲3.4%