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US launches new air strikes on Iran amid Strait of Hormuz tensions
Crude oil futures rose about 4.8% to around $90 after the strikes, with markets watching the impact on energy prices ahead of the US midterm election.
South China Morning Post reports that US President Donald Trump ordered new air strikes on Iran on Tuesday, as US and Iranian tensions escalate around shipping and regional security. The US Military Central Command said the attacks were in response to recent attempted attacks by Iran’s Islamic Revolutionary Guard Corps on commercial ships in the Strait of Hormuz and against American service members deployed in the region.
In remarks posted on Truth Social, Trump said the strikes were intended as retaliation for an Iranian attempt to add sea mines to the Strait, which he said currently has no mines.
The story adds that crude oil futures, already lifted by renewed US attacks late last month, rose to around US$90 in midafternoon trading Tuesday, a 4.8% increase. It also notes the timing comes just weeks ahead of the US midterm election, where affordability has been a central theme.
Latest closeWTI crude $90.79 ▲5.9%