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Commodities

Iran Missile Attack Sends Oil Prices Soaring

Guavy AI Editorial Team
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Oil
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Oil prices surged in Asia after Iran's ballistic missile attack on US forces in the Middle East. The Brent crude price rose by 3.42% to $86.97, while WTI increased by 3.58% to $82.09 per barrel.

The US and Saudi Arabia retaliated with strikes against terrorist sites in Iraq following multiple drone attacks by Iran-aligned groups. Additionally, reports of suspicious activity and an explosion in the Red Sea raised concerns about regional oil supply disruptions amid ongoing Houthi attacks on Saudi oil infrastructure.

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