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Iran says it will respond decisively to further aggression
The IRGC said it carried out retaliatory drone and ballistic missile strikes against US targets at two air bases in Jordan, while WTI rose 2.2% to $84.6.
Iran’s Islamic Revolutionary Guard Corps said its aerospace forces conducted retaliatory drone and ballistic missile strikes against US targets at two air bases in Jordan earlier Monday, Reuters reported, citing an IRGC statement.
The IRGC said the action was in response to US and Israeli air aggression against Iran’s southern Larak Island in Hormozgan province on Sunday night, while Iranian President Masud Pezeshkian said Iran does not seek war but will respond to aggressions after reported crossfire between Washington and Tehran on Sunday.
In early trading at the time of writing, West Texas Intermediate oil was up 2.2% on the day to $84.60, highlighting how geopolitical risk can move crude prices.
WTI is a benchmark for the oil market and is quoted frequently in the media, with price drivers including supply and demand conditions, political instability and sanctions, and, because oil trades in dollars, the value of the US dollar.
Latest closeWTI crude $83.44 ▼0.1%