US Foils Iranian Missile Attack, Oil Prices Surge Amid Tensions
US Central Command confirmed that all incoming Iranian missiles were successfully intercepted on Tuesday evening, ending a dayslong pause in fighting and increasing tensions in West Asia.
The US had halted tit-for-tat strikes with Iran for several days before the latest attack. The incident followed multiple drone attacks against US forces in Iraq by Iran-backed militants.
US President Donald Trump welcomed Israeli Prime Minister Benjamin Netanyahu to the White House for talks, despite strained ties between the two leaders over issues like the Strait of Hormuz and nuclear deals with Saudi Arabia.
Omani negotiators are working on an agreement to restart substantial shipping through the strait, which would enable Iran and the US to resume formal negotiations about Tehran's nuclear program and permanently end their war.
Crude oil prices jumped 5% to $83 a barrel after the latest attack, paring some of the 14% drop over the past three sessions. Brent crude also opened 3.3% higher.