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US Destroys Iranian Oil Tankers Amid Escalating Hormuz Tensions

Guavy AI Editorial Team
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Oil
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The U.S. military has destroyed five Iranian oil tankers in response to an attempted attack on a U.S. warship, escalating tensions in the Strait of Hormuz.

The incident occurred after Iran's Supreme National Security Council secretary Mohsen Rezaei warned that Tehran would not reopen the strait while the U.S. continues to threaten or attack Iran.

Brent oil prices surged 3% to $100.86 and WTI was higher by 3% at $95.84 as traders bid up oil on risks around the Strait of Hormuz resurfacing.

Goldman Sachs's Daan Struyven predicted that prices could move above $120 a barrel if attacks on shipping intensify, citing the latest escalation in hostilities.

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