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Brent jumps back above $90 as US-Iran strikes resume
Brent’s move follows a US strike on IRGC rocket launchers and an Iranian ballistic missile response that all reportedly were intercepted.
Brent surged back above $90 as direct military exchanges between the United States and Iran resumed, reversing part of last week’s de-escalation trade, according to Action Forex.
The outlet said US forces struck two IRGC rocket launchers on Larak Island on Sunday, the first acknowledged US strike on Iran since late July, and that Iran retaliated with ballistic missiles targeting two US-linked bases in Jordan, with all eight reportedly intercepted and no casualties.
Action Forex added that CENTCOM framed the operation as a response to an imminent threat near the Strait of Hormuz after US forces had finished clearing mines from shipping lanes, while Iran claimed the US “struck first” after a month-long lull.
Despite the oil reaction, the outlet noted other markets were not fully confirming a broader risk-off move, pointing to a weaker US dollar, a yen rebound it attributed to intervention-threat short-covering, and a gold bounce consistent with a correction rather than a reversal.
Latest closeGold $4,504.10 ▼2.3%|Brent $88.29 ▼1.6%