Commodities
Iran's Escalation Sends Oil Prices Soaring to $99.49
Oil prices surged on September 9 as Iran launched fresh attacks on US military installations in the Gulf. The Revolutionary Guards targeted two US destroyers and a Jordanian base using ballistic missiles, marking a direct counter to US attacks on Iranian oil tankers.
Analysts warn that if shipping turmoil escalates, oil prices could spike to $120 per barrel, intensifying concerns over crude supply stability worldwide.
Brent crude futures rose 1.6% to $99.49 a barrel, while US West Texas Intermediate crude increased 1.72% to $94.63 a barrel.
US Secretary of State Marco Rubio stated that Washington would continue targeting Iranian oil tankers in response to attempted attacks on US warships.